Investigation Finds Trump’s 63-Story High Rise at 40 Wall Street in New York City is Sinking in Massive Debt: ‘The building is simply not earning enough money to cover the loan’
Investigation Finds Trump’s 63-Story High Rise at 40 Wall Street in New York City is Sinking in Massive Debt: ‘The building is simply not earning enough money to cover the loan’
– A beloved building belonging to former President Donald Trump appears to be drowning in debt as problematic financial deadlines loom, according to a new financial analysis.
“The building is simply not earning enough money to cover the loan,” Forbes reported. “Adding to the headaches: Trump, who doesn’t own the land on which the building sits, has just nine years left until his ground rent escalates dramatically.”
Trump, with $566 million of legal liabilities and just $413 million in cash, will reportedly have to pay his $118 million debt to Ladder Capital by July.
But the building’s operating income has nearly halved from about $21 million in 2018 to $12.8 million in 2023, according to Forbes.
“That leaves the Republican presidential candidate in a tough spot as the November election approaches, short on funds to save one of his prized possessions,” according to Forbes.
Should Trump clear this hurdle, he’ll face another in 2024, Forbes reported.
That’s when the German company that owns the land underneath 40 Wall St. is scheduled to implement a near sixfold increase to the cost of Trump’s lease, according to the report.
“That shift would cause Trump’s ground rent to soar from $2.8 million in 2032 to $16.3 million the following year,” Forbes reported.
“If the rest of 40 Wall Street’s financial picture remained the same as it is today, that would leave Trump with a negative $5 million in net operating income in 2033.”
Trump’s options in July 2025 will be to seek another loan, use his own money or declare bankruptcy on the property, according to Forbes.
The Forbes analysis argued option one would represent a struggle, option two would be fiscally uncomfortable and option three would make history.
“It would be his seventh bankruptcy,” Forbes reported, “although it’d break new ground for him by being his first not involving a hotel.”
AreYouDoneNow on
You know how the old saying goes, if you owe the bank $100, you have a problem, if you owe the bank, uh, *checks notes*, $118M, the bank has a problem.
onceinawhile222 on
Donald needs DJT 20 very much. Will all true believers please place a buy order soon. Thanks
Red-Leader-001 on
The MAGA base will setup a Go-Fund-Me for Trump or something equivalent. Trump has absolutely no reason to worry at all. I have seen this happen over and over again when Trump needs money.
amithecrazyone69 on
I’m sure he’ll grift some republicans on welfare to help pay his bills
CryptoMemesLOL on
The article doesn’t explain why it’s Kamala’s fault!?
Sorkel3 on
I wonder how his other trophy properties are doing, like Trump Tower. Commercial real estate has taken a big hit in most urban areas, while Trump Tower is buffered by residential sections this building isn’t. Add to the toxicity of the Trump label…
I wonder if he’ll dump Truth Social to get $$ if he can’t renegotiate the loan. He’s done bankruptcy before, of course, so a 7th isn’t out of the question, as are junk bonds although if the building doesn’t have the income to service regular interest rate loans it’s not going to cover junk bond rates unless he does a ballon payment. Junk bonds in part sank his casino empire.
SJSquishmeister on
I’m sure his Russian backers will step up. Again.
Trump Jr.: _We have all the funding we need out of Russia._
Russians influencing GOP politics. Again.
New_Function_6407 on
Reason one million why he’s unqualified to be POTUS.
LapsedVerneGagKnee on
Unless It leads to his name getting ripped off those properties, I’m going to expect the usual bailout.
Julie-Andrews on
Maybe he could hawk some cheap piece of shit for thousands of dollars to help him out?
Ill-Maximum9467 on
I like!
qopdobqop on
Imagine Trump being underwater.
“I can’t pay my fines, MAGA help me.”
badpopeye on
The sinking profits of real estate beginning in late 90s is why i think Trump went into the entertainment business first with Television then upgraded to politics when he figured out was the best con game
n3w4cc01_1nt on
he’s always been an financial illusion artist
j____b____ on
Make him sell his peanut farm!!!! Oh wait that was what they did to Carter because of potential conflicts of interest.
Bernkastel17509 on
My god just vote Blue people, I hope to not hear of Donald Trump next year
pastoreyes on
Sucking the money out of all his properties so that when the judgment against him goes to seize them, there is no money in selling them
beavis617 on
The golf courses were losing money, the Trump organization is a mess if it even exists anymore. Trump owes millions because of the legal judgements, of course he needs to campaign so he can skim from the campaign contributions…🙄
Extreme-Parking7304 on
His whole “empire” is sinking, he has to replenish his stock with the government handouts and grifting. Oh and to stay outta prison.
Bitch_Posse on
Bankrupt. Just like him. Morally.
Willow1911 on
Shocker, a Trump enterprise that is failing
protocol3811 on
So the Russian Sanctions are working?
Dependent-Initial-15 on
No big surprise here. Doesn’t everything the orange blight touches turn to shit?
dadzcad on
Another Trump bankruptcy, huh?
That’s impressive to say the least.
BlergFurdison on
Quick, somebody summon a magat to tell us how business geniuses never show profit so they can avoid taxes.
26 Comments
As per [original article](https://www.rawstory.com/trump-40-wall-street/) 📰:
– A beloved building belonging to former President Donald Trump appears to be drowning in debt as problematic financial deadlines loom, according to a new financial analysis.
Trump’s 63-story high rise at 40 Wall St. in New York City is currently worth $2 million less than the $118 million Trump owes on his $160 million mortgage — and its income continues to plummet, [according to a recent Forbes report](https://www.forbes.com/sites/zacheverson/2024/10/05/donald-trump-wall-street-tower-40-building/).
“The building is simply not earning enough money to cover the loan,” Forbes reported. “Adding to the headaches: Trump, who doesn’t own the land on which the building sits, has just nine years left until his ground rent escalates dramatically.”
Trump, with $566 million of legal liabilities and just $413 million in cash, will reportedly have to pay his $118 million debt to Ladder Capital by July.
But the building’s operating income has nearly halved from about $21 million in 2018 to $12.8 million in 2023, according to Forbes.
“That leaves the Republican presidential candidate in a tough spot as the November election approaches, short on funds to save one of his prized possessions,” according to Forbes.
Should Trump clear this hurdle, he’ll face another in 2024, Forbes reported.
That’s when the German company that owns the land underneath 40 Wall St. is scheduled to implement a near sixfold increase to the cost of Trump’s lease, according to the report.
“That shift would cause Trump’s ground rent to soar from $2.8 million in 2032 to $16.3 million the following year,” Forbes reported.
“If the rest of 40 Wall Street’s financial picture remained the same as it is today, that would leave Trump with a negative $5 million in net operating income in 2033.”
Trump’s options in July 2025 will be to seek another loan, use his own money or declare bankruptcy on the property, according to Forbes.
The Forbes analysis argued option one would represent a struggle, option two would be fiscally uncomfortable and option three would make history.
“It would be his seventh bankruptcy,” Forbes reported, “although it’d break new ground for him by being his first not involving a hotel.”
You know how the old saying goes, if you owe the bank $100, you have a problem, if you owe the bank, uh, *checks notes*, $118M, the bank has a problem.
Donald needs DJT 20 very much. Will all true believers please place a buy order soon. Thanks
The MAGA base will setup a Go-Fund-Me for Trump or something equivalent. Trump has absolutely no reason to worry at all. I have seen this happen over and over again when Trump needs money.
I’m sure he’ll grift some republicans on welfare to help pay his bills
The article doesn’t explain why it’s Kamala’s fault!?
I wonder how his other trophy properties are doing, like Trump Tower. Commercial real estate has taken a big hit in most urban areas, while Trump Tower is buffered by residential sections this building isn’t. Add to the toxicity of the Trump label…
I wonder if he’ll dump Truth Social to get $$ if he can’t renegotiate the loan. He’s done bankruptcy before, of course, so a 7th isn’t out of the question, as are junk bonds although if the building doesn’t have the income to service regular interest rate loans it’s not going to cover junk bond rates unless he does a ballon payment. Junk bonds in part sank his casino empire.
I’m sure his Russian backers will step up. Again.
Trump Jr.: _We have all the funding we need out of Russia._
Russians influencing GOP politics. Again.
Reason one million why he’s unqualified to be POTUS.
Unless It leads to his name getting ripped off those properties, I’m going to expect the usual bailout.
Maybe he could hawk some cheap piece of shit for thousands of dollars to help him out?
I like!
Imagine Trump being underwater.
“I can’t pay my fines, MAGA help me.”
The sinking profits of real estate beginning in late 90s is why i think Trump went into the entertainment business first with Television then upgraded to politics when he figured out was the best con game
he’s always been an financial illusion artist
Make him sell his peanut farm!!!! Oh wait that was what they did to Carter because of potential conflicts of interest.
My god just vote Blue people, I hope to not hear of Donald Trump next year
Sucking the money out of all his properties so that when the judgment against him goes to seize them, there is no money in selling them
The golf courses were losing money, the Trump organization is a mess if it even exists anymore. Trump owes millions because of the legal judgements, of course he needs to campaign so he can skim from the campaign contributions…🙄
His whole “empire” is sinking, he has to replenish his stock with the government handouts and grifting. Oh and to stay outta prison.
Bankrupt. Just like him. Morally.
Shocker, a Trump enterprise that is failing
So the Russian Sanctions are working?
No big surprise here. Doesn’t everything the orange blight touches turn to shit?
Another Trump bankruptcy, huh?
That’s impressive to say the least.
Quick, somebody summon a magat to tell us how business geniuses never show profit so they can avoid taxes.