Removal of Trump Tower Security Signals End of Presidency in NYC

Bookmark

The barricades have come down around Trump Tower on Fifth Avenue and armed guards have departed, ending a symbol of Donald Trump’s presidency in New York.

It’s a welcome change for the retailers surrounding the property.

“The police barricade, armed NYPD guys with assault rifles by the Trump Tower entrance made it feel like a warzone,” said Steven Soutendijk, a managing director at Cushman & Wakefield Plc. “It’s not really amenable to a pleasant street scape or shopping experience.”

Removal of Trump Tower Security Signals End of Presidency in NYC

Since departing the White House, Trump has relocated to his private club in Palm Beach, Florida.

Retailers on Fifth Avenue have taken a major hit over the past few years as rents plummeted and vacant space grew. The pain was exacerbated for retailers near Trump Tower, where extra security was added after the 2016 election.

That includes luxury stores Oxxford Clothes and Armani, which had to deal with a drop in pedestrian traffic, physical blockades and a closed road.

On Thursday morning, a handful of police cars were spotted around the building, and nearly all the metal gates had come down. Cement blocks still surrounded the property but vehicles were finally able to flow freely down East 56th Street.

“As more of those blockades come down, there’ll be no questions of signs of life,” Soutendijk said.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.