Branching Out
If there’s a picture of Trump that would perfectly show him branching out of the business his grandfather and father created, this would be it. Here we see Trump just after the New York Board of Estimate approved a plan for him to buy and refurbish the abandoned Commodore Hotel in Manhatten. This was what allowed Trump to launch his real estate business. Naturally, it would be unfair to say Trump really ventured out on his own. He had a $70 million construction loan that was guaranteed by Fred Trump and the Hyatt Hotel chain (it would get its name on the building after the reconstruction). While Trump continues to claim he built the company all by himself, it’s more accurate to say he continued the success his grandfather and father had before him.
Branching Out
Trump Tower Completion
The same year that the Commodore Hotel takeover was finalized, the city also approved Trump’s rights to develop Trump Tower in Midtown Manhattan. To complete it, Trump hired undocumented Polish workers to demolish the old Bonwit Teller retailer flagship store, reportedly. That building was famous for its art-deco features and was originally marked for preservation by the city. Trump Tower took four years to finish. The final spaces opened in November, 1983. Nowadays, the building holds multiple residential and commercial spaces. The most famous being Trump’s own penthouse and the headquarters of the Trump Organization.
Trump Tower Completion
