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Trump’s Trump Card: the $20m Discount

Aug 04, 2009By

You know the luxury penthouse might be overpriced in today’s market if the developer has to offer a $20m discount to attract buyers. It also says something about the cash reserves of the developer if he waits around 54 weeks before cutting the price. And that’s just what developer Donald Trump did when he recently cut the asking price of a four-bedroom penthouse at 502 Park Ave. A New York Post article has the scoop on the luxury apartment, which was slashed to $31m from $51m.