Trump Tower Security Is Wreaking Havoc On Fifth Avenue Luxury Retailers
Fifth Avenue retailers aren’t happy with president-elect Donald Trump, but not for any reason you might be thinking.
The increased security at Trump’s NYC home has reportedly restricted pedestrian traffic and caused sales to drop throughout the area. The day after the election, for example, sales plunged as Trump Tower turned into a fortress, CBS News reports.
While sales came back somewhat by the end of the week, retailers still weren’t thrilled about low traffic, especially since they’re paying more than $3k/SF in rents.
The tower's surrounded by police officers, federal agents and even a checkpoint for those going into the tower. There are also metal barriers on both sides of Fifth Avenue. All of 56th Street is blocked off.
There’s also the matter of protesters. Ten thousand marched outside the tower on Wednesday and more demonstrations are expected. Authorities have promised to “make some adjustments” to help improve window shopping.
Trump will mainly reside in the White House, but is expected to visit the tower occasionally. Nobody knows how his retailer neighbors will react to regular visits by a presidential motorcade. [CBS]
