Do you remember the story of the Washington, D.C., post office that became the Trump International Hotel? Not a regular visitor to the nation's capital, I was only dimly aware of the historic landmark — and then mostly because of some ginned-up controversy before and during Donald Trump's first term as president.
The story behind Trump's purchase, renovation, and sale — and eventual repurchase? — ought to be much more widely known and, thanks to John LeFevre, you can learn most of the relevant details in just one X post.
The story of the Trump hotel is DC is wild...
— John LeFevre (@JohnLeFevre) July 23, 2024
- Secured the rights to the historic DC Post Office building in 2013 for free, in exchange for renovating it and a profit-sharing agreement.
- Spent $200 million on renovation, financed by a $170 million loan from Deutsche Bank, the… pic.twitter.com/ENyx0aGFPv
Let me repeat that one mind-blowing detail: Trump "Sold the property in 2022 for $375 million, at a record price-per-room, netting a ~$100 million profit."
It's a damn shame that the new owners needed less than two years to run Trump's success into the ground. Buying it back at a nice discount sounds great but, as another X user noted, "Given the current political climate and recent events, it seems the temperature of politics hasn't cooled down enough to make this viable.
Hardly anyone builds buildings like that one anymore and, as D.C. lawyer Mark Lyon posted, Trump went above and beyond to protect the heritage of this one.
The renovation was also really well done. Historic things that could have been easily scrapped were kept. As a former tenant of 40 Wall, I wasn’t expecting the care that went into the rehab, but it’s a beautiful space. pic.twitter.com/ktXvTBaRxf
— Mark Lyon (@markhlyon) July 23, 2024
If any of this story feels a bit familiar, it ought to.
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Donald Trump was famous — some, even his supporters, might say infamous — in New York as the brash, young developer with a reputation for making money and appearing on Page Six. But Trump didn't quite catch attention nationally until he saved an ice skating rink in 1986.
It seems like such a small thing because, well, it was. But the story of Central Park's Wollman Rink perfectly encapsulated so much of what was wrong with pre-Guiliani New York City and so much of what's right with Trump.
The Wollman Rink opened in 1949 when the city was under much better management. By 1980, official neglect had caused it to fall into such ruin that Mayor Ed Koch ordered it closed. "The city promised to reopen it by 1985," the New York Post reported in a 2017 retrospective. "But Koch’s incompetent commissioners and contractors let the job run $12 million over its original $4.7 million budget, and by 1986, the finish line was nowhere in sight."
Trump said he'd get Wollman back in business before Christmas and said, "If Koch doesn’t like this offer, then let him have the same people who have built it for the last six years do it for the next six years.”
Skaters were enjoying Wollman again on November 1.
Using his other knack — for self-promotion — Trump made sure the papers photographed him driving the Wollman Zamboni.
Saving Wollman Rink made Trump a New York City hero - Trump is a Star! Trump has built many things, employed many people, helped many people. What has Biden done-NOTHING! https://t.co/7rM7yyG1uP
— Rachel (@GoldnemovesGold) July 20, 2024
None of the hype Rachel added in her tweet was necessary — it's all right there in one well-earned photo.
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