65 pages • 2 hours read
Trump: The Art of the Deal
A modern alternative to SparkNotes and CliffsNotes, SuperSummary offers high-quality Study Guides with detailed chapter summaries and analysis of major themes, characters, and more.
Chapters 10-12Chapter Summaries & Analyses
Chapter 10 Summary: “Low Rent, High Stakes: The Showdown on Central Park South”
At 100 Central Park South, Donald Trump’s attempt to demolish two buildings and build a luxury condominium faced intense resistance from tenants. Although the tenants succeeded in delaying him, real estate values soared during the legal battle, ultimately making his project more profitable than originally planned.
In 1981, Trump purchased 100 Central Park South, a rent-controlled residential building, and the Barbizon-Plaza Hotel next to it, securing “one of the best pieces of real estate anywhere in the world” (250) at a favorable price. The buildings were not generating much profit, but Trump saw immense real estate potential. His plan was to vacate both buildings, demolish them, and build a luxury tower. However, he underestimated how fiercely tenants would fight to keep their below-market-rate apartments in a high-end location. Rent control laws made evicting tenants “almost impossible” (252). Wealthy tenants had the most to lose and organized a legal battle, hiring top attorneys and contributing thousands of dollars to block Trump’s project. Trump later researched the tenants’ finances and found that many were affluent professionals or celebrities, including fashion designers, attorneys, and stockbrokers, enjoying massive rent subsidies. Even Ed Koch, the Mayor of New York and longtime Trump Unlock all 65 pages of this Study Guide Plus, gain access to 9,100+ more expert-written Study Guides. Including features:
