Trump Launches International Realty Firm in NYC
- Oct 25, 2012
Donald Trump’s announcement about the President of the United States was not the only piece of news the real estate tycoon and media master shelled out yesterday.
The Trump Organization launched Trump International Realty in New York City, a brokerage firm representing high-end residential sales and rentals at Trump properties and across Manhattan.
To celebrate the occasion, the Trump clan, including The Donald, his sons Don Jr. and Eric, and daughter Ivanka, held a launch party that included a short speech, photo opportunities to some, and cocktails afterwards at The Atrium inside Trump Tower on Fifth Avenue.
“We are very proud to announce the launch of Trump International Realty. As an organization, we are consistently striving to exceed expectations and provide the best in class service,” said Ivanka Trump, executive VP of Development & Acquisitions in a prepared statement.
The Trump International Realty team includes Kathy Kaye, senior VP director and Kevin Sneddon, sr. VP and managing director of the New York office.
The firm has launched with about 20 agents in four offices in Manhattan and a retail storefront at 108 Central Park South, the flagship location, according to Crain’s.
The Realty also has offices in Chicago and Las Vegas, and is planning an expansion with the opening of additional offices in the next year.
The Manhattan real estate market is currently on fire. Prices and sales volume continue to hold relatively steady in the second quarter of 2012, because of a continued decline in inventory, low interest rates and increased foreign investment, according to a NY Times article. In one of the highest luxury bids, a Citigroup chairman sold his penthouse to a Russian billionaire for as much as $88 million last year. Nevertheless Trump will be competing with several other brokerage firms looking to get a piece of the New York action.
“Trump International Realty demonstrates a clear competitive advantage in marketing and selling luxurious properties in both Trump buildings and beyond,” said Kevin Sneddon, in a prepared statement. “When people think about luxury real estate in New York whether they live in New York or are visiting … they think Trump.”