Apparently, people aren’t lining up to have Ivanka Trump be their landlady.
The first daughter’s unit in a Trump-brand Manhattan apartment building dropped its asking price again this week, Bloomberg reports. It’s been on the market for nearly a year, during which the initial asking rent of $15,000 per month has steadily lowered to its current $10,450.
Trump bought the 1,549 square-foot, two-bedroom pad at Trump Park Avenue in 2004 for $1.5 million, according to public records. Agents listed the apartment for rent last October, then tried to sell it last winter for $4.1 million, then went back to renting, according to records on StreetEasy and Zillow.
Trump currently lives in a house in Washington D.C.
Trump buildings in both New York and Chicago have struggled to keep renters and buyers around in the past year, The New York Times and Chicago Tribune report. But it not be solely due to the Trump name; Bloomberg reports that Manhattan’s rental market is currently “suffering from an oversupply” of units.
Meanwhile, prices for luxury rentals are up in Manhattan, Jacob Gaffney, editor-in-chief of HousingWire, told HuffPost. At $10,450, Ivanka’s unit is priced slightly higher than similar properties, which rent for an average $10,123.
“It looks like the listing agent wildly overestimated the popularity of this property and had to realign the price to mirror its actual market value,” Gaffney said. “It’ll move quickly if listed south of $10,000, if the owner’s ego would allow for that.”
The unit’s listing agent declined to comment.