Exclusive: Trump Organization pays off loan on 40 Wall Street in New York [View all]

Source: Reuters

June 23, 2025 8:22 PM EDT Updated 9 hours ago


June 23 (Reuters) - President Donald Trump's family business has paid off in full in cash the $160 million loan on its 40 Wall Street office tower in Manhattan, a Trump Organization spokesperson said on Monday, underscoring how the business' fortunes have improved since Trump's re-election last year. Trump has cited 40 Wall Street, a 72-story landmark building in the financial district of lower Manhattan which he bought for $1 million, as one of his most successful real estate investments ever.

In recent years, however, the building struggled with low occupancy and its income has been unable to cover debt payments. The loan was due for repayment in early July, and the spokesman for the Trump Organization -- a term used by the president's family to describe its holdings -- said the building was now debt-free. Analysts estimate that about $114 million of the loan was outstanding.

The president's golf and resort businesses have performed well in recent years, throwing off a lot of cash. In recent months, his family business has struck lucrative licensing deals with developers and opened multiple beachheads in crypto currencies, which have yielded hundreds of millions of dollars in fees and other revenue.

The loan on 40 Wall Street was extended by Ladder Capital in 2015 and had a low interest rate of 3.67%, according to a financial disclosure released earlier this month. Prevailing interest rates for similar buildings have been almost twice the level on the Ladder Capital loan, leading some analysts to predict it would be difficult for the Trump Organization to refinance the debt.

Read more: https://www.reuters.com/business/finance/trump-organization-pays-off-loan-40-wall-street-new-york-2025-06-23/