Trump snagged this oceanfront mansion at an auction in 2004 for $41.35 million. Reportedly “gutting it” and installing upgrades and renovations, he flipped the beachfront palace and sold it to Russian billionaire Dmitry Rybolovlev in 2008 for a record high $95 million. The most expensive residence, ever.
By 2016, Rybolovlev decided the ocean view property itself is more valuable than the 60,000-square-foot, 18-bedroom, 3-guest house complex named Maison de L’Amitie and decided to tear it down. But Maison de L’Amitie translated to the house of friendship, was lavish, including a grand ballroom, diamond and gold fixtures, and construction of marble, granite, and mahogany, giving the property a luxury-centric atmosphere. Rybolovlev never lived at the mansion and visited it only once. After the 2016 demolition, he divided up the property into two lots. He sold both, $34 million for one and $39 million for the other, $71 million total for a slice of prime Palm Beach coastline.
Grand Hyatt Hotel, Midtown Manhattan, NY
The historic New York Commodore Hotel located at Grand Central Terminal became the Grand Hyatt Hotel after Trump and the Hyatt Corporation worked together in the 1970s to purchase and renovate the 1919 building with a sleek modern atrium and a glass-sheathed facelift, what would become Trump’s signature mirrored glass and stainless steel façade. It opened in 1980 to wild fanfare, winning the spotlight for the gregarious Trump. It would become the launchpad for Trump’s career as a New York real estate developer. With behind the scenes help from his dad, Fred Trump, Donald won media attention and accolades for being the bold entrepreneur who dared to take on the major project of developing the site and rejuvenating the deteriorating railway hotel and neighboring area with Grand Hyatt’s gleaming high rise.
His vision revitalized a core section of New York City. A significant aspect of the deal Trump brokered was an enormous, 40-year tax break from the city. In an unprecedented move, Trump negotiated this $4 million a year tax break which was the first ever of its kind for a commercial property. It’s cost New York City over $360 million in lost tax revenue to date. Procuring assistance from the government like this would become part of Trump’s strategy, part of the artful nature of his deal-making. In 1976, while this huge deal was going down, Trump told The New York Times how he loves "financial creativeness", saying "There’s a beauty in putting together a financial package that really works, whether it be through tax credits, or a mortgage financing arrangement...” But today, another New York real estate developer has announced plans to demolish the Grand Hyatt and build a bigger, better, more beautiful mix-use project with more luxurious, but scaled back, Hyatt accommodations and new subway access points. The plan, which considerably increases N.Y.C. tax revenue, awaits city approval. Look for the demo crew in 2020.
Trump Waikiki
This towering island luxury property boasts of Trump’s signature resort experience, but technically, Trump International Hotel & Tower Waikiki is not owned or developed by The Trump Organization. Irongate, a Los Angeles real estate company, built the hotel which opened in 2009 and leases the Trump name, it’s a win-win arrangement. Trump likes to showcase his name and name recognition helps fill the 500 ocean view rooms. It’s a beauty.
Five-star, exclusive Honolulu accommodations towering over white sand beaches, where one may indulge in outdoor dining, live entertainment, a private fitness center, a library, the spa, and a private business center, just in case you're forced to go to Hawaii on a business trip.
More About Bedminster
Located on the heart of New Jersey’s farm country, it’s a beautiful destination. Ivanka Trump held hers and Jared Kushner’s wedding there. Events at the Grand Ballroom, with exquisite floor to ceiling sprawling windows offering never-ending views, or at the classy main clubhouse, a restructured 1930’s Georgian Manor, are nothing short of stunning. The magnificent Manor offers several indoor and outdoor areas for family dining, après golf, or any occasion; accommodating up to 300 guests.
Trump National Bedminster is a world-class golf course, rated among the top 100 golf courses in the world. Designed and built by the legendary golf course architect Tom Fazio, it features two 18-hole Heathlands style courses, the newest opened in 2008. It is scheduled to host the 2022 PGA Championship and costs $350,000 to join. It’s a drop in the bucket for some of the celebrities and political elites who often attend, Rudy Giuliani, President Bill Clinton, and former Yankees manager Joe Torre, to name a few. Membership includes use of the Heli-pad, in case the 45-minute drive from N.Y.C. is too long.
The Bachelor Pad
Just imagine Donald J. Trump in the ‘70s. His silver chauffeured Cadillac with custom plates is pulling up to the Phoenix apartment building on the Upper East Side. He’s worth more than $200 million. Tall, blonde and 30, he’s taking in panoramic views, punctuated by the Empire State Building, as he heads out to meet the driver. On the elevator descent from his Manhattan penthouse apartment, he’s thinking about real deals he’ll land that day. He exits the building and makes his way to the car, climbs in and reaches to make the call on one of the world’s first car phones. When his driver returns him at the end of the business day, he prepares to chill at only the ritziest clubs and date only the slinkiest fashion models.
He’s on the cusp of national distinction, becoming a media darling with a flamboyant and brash personality to match. And it all started in his luxury apartment at the top of The Phoenix Building, an architectural gem designed by the celebrated Every Roth firm.