Sale of SF's 555 California, part-owned by Trump, put on hold

[Auggie]

Efforts to sell the famed 555 California St. in San Francisco have been put on hold amid an uncertain market, a move that could at least temporarily hurt the finances of the cash-strapped Trump family, which owns 30% of the property, according to the Wall Street Journal.

Vornado Realty Trust, which owns 70% of 555 California St., the former Bank of America headquarters, has decided to suspend efforts to unload both the tower and 1290 Avenue of the Americas building in Manhattan, the Journal reported. The sales of the two buildings were expected to fetch as much as $5 billion, with about $1.5 billion going to the Trump family.

SNIP

The two buildings are perhaps the most valuable assets in the Trump family portfolio. The family has $400 million in debt coming due in 2021 and 2022 and has looked into selling other properties, including its Seven Springs estate outside of New York City, and Trump International Hotel in Washington, D.C., according to the Journal.

As minority owner, the Trump family doesn’t have any control over whether the San Francisco and New York office towers are sold.

FULL STORY: https://www.msn.com/en-us/travel/news/sale-of-sf-s-555-california-part-owned-by-trump-put-on-hold/ar-BB1bglg5?ocid=FinanceShimLayer

Poor little Trumps ...

[DonaldsRump]

1. I know this building well

I always liked it until I found out about Dotard's ownership of it.

[magicarpet]

2. Is the Grim reaper of missed debt payments banging on the trDump family's door ?

Too bad,... so sad,...

Oops fuck that,... I'm elated.

[Auggie]

3. Same here. HUUUGE case of schadenfreude!!!