Cristiano Ronaldo is selling his Trump Tower apartment at a huge $10 million loss, report says - Yahoo News

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Cristiano Ronaldo first put it on the market in 2019 for $9 million Getty Images, Warburg Realty

• Cristiano Ronaldo is selling his Trump Tower apartment for $7.75 million.

• The soccer star bought the 2,500-square-foot pad for $18.5 million in 2015.

• Trump-branded Manhattan properties have lost more than 20 percent of their value since 2017.

• Visit Insider's homepage for more stories.

Cristiano Ronaldo is preparing to sell his Trump Tower apartment at a major loss, according to The Sun.

The soccer star paid $18.5 million for the 2,500-square-foot pad in 2015, Insider previously reported.

Ronaldo then put the luxury property on the market in 2019 for $9 million after fans signed a petition urging him to distance himself from former President Donald Trump, Vanity Fair said.

However, due to the pandemic and a lack of offers, he has dropped the price further.

Ronaldo slashed the price by more than half of its purchase price, listing it at $7.75 million in May 2021, Vanity Fair reported.

Read more: I tried to buy a house in my home state of Montana, but out-of-towners have driven prices through the roof. Now I have a new plan.

As Insider previously reported, Ronaldo's property was designed by Juan Pablo Molyneux, who is well-known for his "maximalism" style.

The 2,500-square-foot pad belonged to Alessandro Proto - a business partner of Donald Trump's. Warburg Realty

It has three bedrooms and 360-degree views of New York's Central Park.

The soccer star's inability to sell the luxury apartment is less to do with its interior design and more to do with how radioactive the Trump brand has become since his tumultuous one-term president.

According to Curbed's January 2021 analysis of a report from real-estate data firm UrbanDigs, Trump-branded Manhattan properties have lost more than 20 percent of their value since Trump took office.

By comparison, the overall price per square foot decline in Manhattan over the same period was just 9 percent, Insider's Juliana Kaplan reported.

Read the original article on Insider

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