For All the People That Think Trump is a Genius

All of you Trump admirers out there should note that The Donald is selling a major piece of New York City property. Although I don’t think the man is a genius, he is at least competent, and this sale must mean that he thinks he is getting the best price he will ever get for that property.

[“A consortium of Hong Kong investors and Donald J. Trump are selling a stretch of riverfront land and three buildings on the Upper West Side for about $1.8 billion in the largest residential sale in city history and in the latest example of a rocketing housing market.

The Extell Development Corporation and the Carlyle Group have a tentative deal to buy a major swath of developable land at the onetime railroad yard between 59th and 72nd Streets, which has been turned into a luxury enclave known variously as Riverside South and Trump Place, according to real estate executives who have been briefed on the deal. The 77-acre property embraces what will be a 21-acre public park that slopes down to the Hudson River.

The deal comes as the average condominium price in Manhattan has soared to more than $1.2 million and as developable land has become increasingly rare, even as some economists worry that a housing bubble will soon burst.”]