Trump Tower Fire: No Fire Sprinklers?

Is the aging Trump Tower, around since 1983, well equipped for these types disasters?

Six firefighters sustained minor injuries while tackling the blaze. Image Credit: EPA/ALBA VIGARAY

(New York, NY) — Since 2015, the prices of condos at NYC’s Trump Tower have plummeted in value.

According to Business Insider, the average price per square foot (PPSF) at the Trump Tower dropped 13% from 2016 and 23% from the year before, leaving its current PPSF at $2,100.

Now, while we have speculated whether or not Donald Trump’s rocky campaign has affected his real estate portfolio, the recent fire on the 50th floor of the Trump Tower, which killed one and injured six, could leave a lasting impression.

According to the website CitiRealty.com the unit above 50B is listed for rent on the 50floor. PhotoCredit: citirealty.com

Many factors can influence the deduction of a property’s value after a fire, such as insurance claims, and damage restorations.  And, while the fire was contained to the 50th floor (a job well done by FDNY), the Trump organization might run into some trouble. CNN has reported that there were no fire sprinklers on the upper-level residential floors, a recipe for disaster. And, to make it even more interesting, just three months prior, the building endured a minor fire that broke out on the roof.

Is the aging Trump Tower, around since 1983, well equipped for these types disasters?

Other famous luxury building fires

Grenfell Tower on fire during the early morning of 14 June 2017. Image Credit: Wikimedia Foundation

The Trump Tower is not the first luxury condo complex to have gone up in flames. In June of 2017, the Grenfell Tower fire in West London killed more than 71 and injured over 70.

In 1986, the Dupont Plaza Hotel, in San Juan, Puerto Rico, was set on fire on New Year’s Eve. This devastating fire killed 98 and was named the second-deadliest hotel fire in the history of the United States.

Another famous luxury building fire was the MGM Grand Hotel fire. In 1980 the Casino in Nevada shot into flames, killing 85 and injuring over 500.


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