Donald Trump

==== Manhattan developments ====
Trump attracted public attention in 1978 with the launch of his family's first Manhattan venture, the renovation of the derelict [[Grand Hyatt New York|Commodore Hotel]], adjacent to Grand Central Terminal.<ref>{{cite web|url=https://ny.curbed.com/2019/4/3/18290394/trump-grand-hyatt-nyc-commodore-hotel|work=[[Curbed]]|first=James|last=Nevius|date=April 3, 2019|title=The winding history of Donald Trump's first major Manhattan real estate project}}</ref> The financing was facilitated by a $400&nbsp;million city property tax abatement arranged for Trump by his father who also, jointly with [[Hyatt]], guaranteed a $70&nbsp;million bank construction loan.<ref name="Rich NYMag"/><ref>{{cite news|first=Glenn|last=Kessler|author-link=Glenn Kessler (journalist)|title=Trump's false claim he built his empire with a 'small loan' from his father|date=March 3, 2016|access-date=September 29, 2021|newspaper=[[The Washington Post]]|url=https://www.washingtonpost.com/news/fact-checker/wp/2016/03/03/trumps-false-claim-he-built-his-empire-with-a-small-loan-from-his-father}}</ref> The hotel reopened in 1980 as the [[Grand Hyatt New York|Grand Hyatt Hotel]],{{sfn|Kranish|Fisher|2017|p=[https://books.google.com/books?id=x2jUDQAAQBAJ&pg=PA84 84]}} and that same year, Trump obtained rights to develop [[Trump Tower]], a mixed-use skyscraper in Midtown Manhattan.<ref>{{cite web|title=The Expanding Empire of Donald Trump|date=April 8, 1984|access-date=September 29, 2021|first=William E.|last=Geist|author-link=Bill Geist|work=[[The New York Times]]|url=https://www.nytimes.com/1984/04/08/magazine/the-expanding-empire-of-donald-trump.html}}</ref> The building houses the headquarters of the Trump Corporation and Trump's [[Political action committee|PAC]] and was Trump's primary residence until 2019.<ref>{{cite news|last1=Jacobs|first1=Shayna|last2=Fahrenthold|first2=David A.|last3=O'Connell|first3=Jonathan|last4=Dawsey|first4=Josh|url=https://www.washingtonpost.com/politics/trump-tower-pac-rent-campaign-finance/2021/09/02/dfeae19e-0b2f-11ec-9781-07796ffb56fe_story.html|title=Trump Tower's key tenants have fallen behind on rent and moved out. But Trump has one reliable customer: His own PAC.|newspaper=[[The Washington Post]]|date=September 3, 2021 |access-date=February 15, 2022}}</ref><ref name=moved>{{cite web|url=https://www.nytimes.com/2019/10/31/us/politics/trump-new-york-florida-primary-residence.html|title=Trump, Lifelong New Yorker, Declares Himself a Resident of Florida|work=[[The New York Times]]|last=Haberman|first=Maggie|author-link=Maggie Haberman|date=October 31, 2019|access-date=January 24, 2020}}</ref>

In 1988, Trump acquired the Plaza Hotel with a loan from a consortium of sixteen banks.<ref>{{cite web|url=https://www.nytimes.com/1992/11/04/business/company-news-trump-revises-plaza-loan.html|title=Trump Revises Plaza Loan|work=[[The New York Times]]|date=November 4, 1992|access-date=May 23, 2023}}</ref> The hotel filed for bankruptcy protection in 1992, and a reorganization plan was approved a month later, with the banks taking control of the property.<ref>{{cite web|title=Trump's Plaza Hotel Bankruptcy Plan Approved|work=[[The New York Times]]|date=December 12, 1992|url=https://www.nytimes.com/1992/12/12/business/company-news-trump-s-plaza-hotel-bankruptcy-plan-approved.html|agency=[[Reuters]]|access-date=May 24, 2023}}</ref> In 1995, Trump defaulted on over $3&nbsp;billion of bank loans, and the lenders seized the Plaza Hotel along with most of his other properties in a humiliating restructuring that allowed Trump to avoid personal bankruptcy.<ref>{{cite web|url=https://www.nytimes.com/1995/04/12/business/trump-is-selling-plaza-hotel-to-saudi-and-asian-investors.html|title=Trump Is Selling Plaza Hotel To Saudi and Asian Investors|work=[[The New York Times]]|first1=David|last1=Stout|author-link1=David Stout|first2=Kenneth N.|last2=Gilpin|date=April 12, 1995|access-date=July 18, 2019}}</ref><ref name="plaza">{{cite web|last=Segal|first=David|title=What Donald Trump's Plaza Deal Reveals About His White House Bid|url=https://www.nytimes.com/2016/01/17/business/what-donald-trumps-plaza-deal-reveals-about-his-white-house-bid.html|work=[[The New York Times]]|date=January 16, 2016|access-date=May 3, 2022}}</ref> The lead bank's attorney said of the banks' decision that they "all agreed that he'd be better alive than dead."<ref name="plaza"/>

In 1996, Trump acquired and renovated the mostly vacant 71-story skyscraper at [[40 Wall Street]], later rebranded as the Trump Building.{{sfn|Kranish|Fisher|2017|p=[https://books.google.com/books?id=Lqf0CwAAQBAJ&pg=PA298 298]}} In the early 1990s, Trump won the right to develop a {{convert|70|acre|ha|adj=on}} tract in the [[Lincoln Square, Manhattan|Lincoln Square]] neighborhood near the Hudson River. Struggling with debt from other ventures in 1994, Trump sold most of his interest in the project to Asian investors, who financed the project's completion, [[Riverside South, Manhattan|Riverside South]].<ref>{{cite web|url=https://www.nytimes.com/2005/06/01/nyregion/trump-group-selling-west-side-parcel-for-18-billion.html|title=Trump Group Selling West Side Parcel for $1.8 billion|last=Bagli|first=Charles V.|work=[[The New York Times]]|date=June 1, 2005|access-date=May 17, 2016}}</ref>