A $100 Million Loan, on Trump's New York City, Fifth Avenue Tower, has been placed on a Debt Watch List, according to Data from Banking Giant, Wells Fargo, the Decision was the Result of "lower average occupancy."
Wells Fargo, which is the Master Servicer of the Loan, said Occupancy has dipped to 78.9% from 85.9%, at the end of 2020.
The Building's Real Estate Income, was $33.7 Million in 2020 and $7.5 Million in the First Quarter of 2021, according to Loan Documents,
Recently, Multiple Tenants fell Behind on Rent.
The Trump Organization Sued the Maker of Ivanka Trump's Shoe Line, earlier this year for $1.5 Million in Unpaid Rent.
Some of Trump's Properties elsewhere in the U.S., have also been facing Scrutiny.
Trump's Property Tax was Slashed for his Chicago Office Tower, because the Building's Commercial Space was mostly Vacant.
That Building's Retail Space had its Assessed Value Cut to $12.5 Million, down from $19.9 Million.
The Assessed Value was Cut by about 37%, because about 95% of the Square Footage was Vacant.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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