Cristiano Ronaldo recently lowered the asking price on his Trump Tower condo from $9 million to $7.75 million. This means he stands to lose nearly $11 million if he sells it at the full asking price. So what’s the big deal about his New York City apartment? Why is the soccer star selling it now? And will it ever actually sell?
What’s the deal with Cristiano Ronaldo’s Trump Tower apartment?
Ronaldo bought the 2,500-square-foot condo in 2015, according to Insider, paying $18.5 million for it. Before he purchased it, it belonged to Alessandro Proto, one of Trump’s business partners. It’s a relatively modest space for the area, so many people wondered why the asking price was so high (even in NYC’s admittedly inflated real estate market). Then the photos hit the Internet.
It turns out that the major draw of this apartment isn’t the maximalist interior, designed by Juan Pablo Molyneux. It isn’t the breakfast nook in the kitchen, or the three bedrooms, or the three-and-a-half marble bathrooms. It’s the wall-to-wall, floor-to-ceiling windows that give a truly expansive view of the city from Central Park to the Empire State Building. Insider has a gallery of photos taken when Ronaldo bought the apartment. It showcases how even the shower has a view of Central Park.
Why is Ronaldo selling it now?
Ronaldo is selling the condo for $7.75 million, which is a loss of $10.75 million. He originally put it up for sale in 2019 at an asking price of $9 million. While the nearly $11 million loss won’t greatly impact the 36-year-old’s $460 million net worth, it still seems like a rather odd time to sell the property. Real estate values in Manhattan have fallen by about 9% since Ronaldo bought the space, after all. But the space on Fifth Avenue happens to be in Trump Tower, which is part of the reason Ronaldo is selling — and likely why he hasn’t found any buyers after more than a year.
One of the reasons Ronaldo put the apartment up for sale involves fans pressuring him to avoid connections to anything with the Trump name on it, reports Vanity Fair. His ownership of the apartment has led fans to question whether Ronaldo supports the divisive former President. There’s also the fact that he plays for the Turin, Italy-based Juventus. Therefore he can’t spend a lot of time in New York City, not to mention the pandemic making international travel more difficult.
The sale and reduced asking price make more sense if you think of it as Ronaldo cutting his losses rather than making an upward move. With his net worth, $11 million is just the cost of getting rid of a property he doesn’t want anymore.
Will the Trump Tower apartment ever sell?
With the high-end real estate market the way it is in New York City, perhaps it isn’t surprising that Ronaldo hasn’t managed to sell the condo after almost two years. But it still seems odd that nobody has placed an offer on it. At the same time, reports Insider, values on Trump-branded properties have gone down 20% since Ronaldo made the purchase — more than two times the average price decline in Manhattan.
It’s far too early to tell whether this latest price cut will be enough to attract a buyer. It could be that the chance to pick up an apartment with such views and provenance at a heavily discounted price will be enough to get someone to bite the bullet. But we won’t know for sure until Ronaldo hangs up the “Sold” sign on those floor-to-ceiling windows.