Cristiano Ronaldo is selling his Trump Tower apartment at a huge $10 million loss, report says
- Cristiano Ronaldo is selling his Trump Tower apartment for $7.75 million (R111 million).
- The soccer star bought the 232-square-metre pad for $18.5 million (R265 million) in 2015.
- Trump-branded Manhattan properties have lost more than 20% of their value since 2017.
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The soccer star paid $18.5 (R265 million) million for the 232-square-metre pad in 2015, Insider previously reported.
Ronaldo then put the luxury property on the market in 2019 for $9 million (R129 million) after fans signed a petition urging him to distance himself from former President Donald Trump, Vanity Fair said.
However, due to the pandemic and a lack of offers, he has dropped the price further.
Ronaldo slashed the price by more than half of its purchase price, listing it at $7.75 (R111 million) million in May 2021, Vanity Fair reported.
As Insider previously reported, Ronaldo's property was designed by Juan Pablo Molyneux, who is well-known for his "maximalism" style.
It has three bedrooms and 360-degree views of New York's Central Park.
The soccer star's inability to sell the luxury apartment is less to do with its interior design and more to do with how radioactive the Trump brand has become since his tumultuous one-term president.
According to Curbed's January 2021 analysis of a report from real-estate data firm UrbanDigs, Trump-branded Manhattan properties have lost more than 20% of their value since Trump took office.
By comparison, the overall price per square foot decline in Manhattan over the same period was just 9 percent, Insider's Juliana Kaplan reported.