Vornado alert. Trump Org's cash flow could take a hit if Steven Roth waxes wroth (Page 1/1)
rinselberg FEB 14, 11:36 PM
A forum topic that argues itself.

"As Trump's businesses struggle, the most profitable asset in his real estate empire is at risk"

quote
Vornado's Steven Roth is mulling withholding cash flow from two buildings Vornado co-owns with Trump, which could make Trump sell his stake at a discount.


That's the nut graph. Here's how it starts:

quote
While Donald Trump undergoes a second impeachment trial in Washington [we know how that came out], he is also confronting a potent threat to the crown jewel of his real estate holdings, according to a person familiar with the matter.
The threat, involving a highly profitable real estate partnership that generates significant cash for the Trump Organization, is ratcheting up pressure on the former president as his real estate and hospitality operations struggle under hefty debt and vastly reduced revenues, largely a result of the coronavirus pandemic.

The partnership owns two first-class commercial buildings — one on Sixth Avenue in New York City and the other in downtown San Francisco — and it is the single most profitable asset in the Trump empire. The Trump Organization owns a 30 percent stake in the buildings, while its partner, Vornado Realty Trust, a huge public real estate concern in New York City, owns 70 percent.


Here's the penultimate paragraph:

quote
Even before the Capitol riot, Trump's net worth had plummeted, according to Forbes' billionaire rankings. At the start of his presidency, the magazine estimated his net worth at $3.5 billion; now the estimate is $2.5 billion.


Gretchen Morgenson, Cynthia McFadden and Anna Schecter for NBC News; February 12, 2021.
https://www.nbcnews.com/new...real-estate-n1257456

[This message has been edited by rinselberg (edited 02-14-2021).]

williegoat FEB 15, 12:05 AM
So, the bottom line (so to speak) is that the claim by some that Trump did all of this for personal gain is, like Dorothy's house, gone with the wind (so to speak).
rinselberg FEB 15, 02:19 AM
I was, but I won't. Actually I did. But then I undid.

[This message has been edited by rinselberg (edited 02-15-2021).]