What Happened to Trump Tower?

Trump Tower, a 58-story, 664-foot-tall skyscraper at 721–725 Fifth Avenue in Midtown Manhattan, was developed by Donald Trump and opened in 1983. Designed by Der Scutt of Swanke Hayden Connell Architects, the building was envisioned by Trump in the mid-1970s as New York's first super-luxury high-rise combining high-end retail, office space, and residential condominiums. It quickly became a prominent symbol of luxury and the Trump brand, housing the headquarters of The Trump Organization and Donald Trump's penthouse residence.

The tower's construction was marked by several controversies. These included the demolition of the historically significant Bonwit Teller store, which previously occupied the site, and the destruction of its art deco sculptures despite initial promises to donate them. More significantly, Trump faced a class-action lawsuit for allegedly underpaying approximately 200 undocumented Polish workers who demolished the Bonwit Teller building, a case that was settled in 1998 for $1.375 million.

Throughout the years, Trump Tower has experienced fluctuating commercial fortunes and increased public scrutiny, particularly after Donald Trump's entry into politics. During his 2016 presidential campaign and subsequent presidency, the tower became a frequent site for protests and saw a significant increase in security, which some tenants found disruptive. Commercial occupancy rates reportedly fell to 84% in 2019 from nearly 100% in 2013, with some real estate analysts noting that the 'Trump' name had become a liability for some prospective tenants.

However, by January 2025, reports indicated a rebound in commercial occupancy, reaching approximately 97%, following refinancing moves by the Trump Organization in 2021 and 2022. In a notable development in July 2025, FIFA leased office space within Trump Tower for the FIFA Club World Cup. The building continues to be a subject of legal proceedings, having been implicated in a $250 million civil fraud lawsuit brought by the New York District Attorney in September 2023 against the Trump Organization.

As of August 2026, Trump Tower remains a fully functional mixed-use property. The Trump Organization owns and operates its commercial and retail portions, while Donald Trump personally owns the penthouse. The building's value was estimated by Forbes at $215 million (gross) and $115 million (net after debt) as of September 2025. A significant recent development is the establishment of a permanent no-fly zone over Trump Tower in August 2026, a measure not typically applied to former presidential residences. Concurrently, the Trump Organization is expanding its international branding, with plans announced in April 2026 for a new 70-story Trump Tower in Tbilisi, Georgia, although a proposed Trump Tower in Gold Coast, Australia, was scrapped in May 2026 due to community backlash.