NYC moves to end contracts with Trump Organization

January 13, 2021 at 17:51

New York (CNN Business) New York City is seeking to terminate its business relationships with the Trump Organization in response to last week's attack on the US Capitol.
We're reviewing whether legal grounds exist in light of these new circumstances to terminate concessions with the Trump Organization."
On Wednesday, global real estate services firmsaid it "has made the decision to no longer do business with The Trump Organization," according to a company spokesperson.
Over the years, Cushman has handled several office and retail properties for the Trump Organization including New York City's Trump Tower, Trump Plaza, the Trump Building at 40 Wall Street and the Trump International Hotel and Tower in Chicago.
Trump and New York City Mayor de Blasio have long sparred with one another.
While the Trump Organization website still lists New York City as the company's headquarters, President Trump and First Lady Melania Trump moved their legal residence from the city to Florida in October 2019.
De Blasio said the city is on firm ground to terminate the contracts because of the president's conduct last week.
"The City of New York will no longer have anything to do with the Trump Organization."
The Trump Organization vowed to fight the city's action.
"The City of New York has no legal right to end our contracts and if they elect to proceed they will owe The Trump Organization over $30 million.
The contracts for the four properties earned Trump $17.9 million in income in 2019 according to his most recent federal financial disclosure filing .
Wollman Rink is the longest-running Trump Organization contract with the city and once served as a cornerstone of Trump's reputation as a businessman who could get things done.