With creditors calling in the Northeast, Donald Trump came to Florida Sunday and raised a quick $15.2 million by auctioning 63 condominiums in the waterfront tower complex bearing his name.
"I'm de-leveraging, and it should be treated as a positive thing," said Trump, complaining about news coverage of his shrinking empire. "I'm selling several things off."Trump said he agreed last week to give Marine Midland Bank half the proceeds toward repayment of a $60 million loan for Trump Plaza of the Palm Beaches. It was not clear how much Trump paid off previously.
In December, 35 units were auctioned for $8.8 million, but several of those sales fell through.
Trump, a symbol of wealth and power during the 1980s, has been under assault this decade.
Two of his Atlantic City, N.J., casinos, Trump Plaza and Trump Castle, faced scrutiny at a hearing Monday by state regulators deciding whether the resorts have the financially stability they need to be re-licensed.
Trump also has been increasingly pressured by creditors to surrender his share in such holdings as New York's Grand Hyatt Hotel, the Alexander's department store chain, the Trump Shuttle and his yacht.
Sunday's auction, with simultaneous bidding here and in New York and Chicago, drew more than 1,000 people.
The 63 condominiums are in twin 32-story towers in West Palm Beach. They have living-room views of the mansions of Palm Beach and the ocean beyond.