'Apprentice' star Donald Trump moving into 55+ real estate market
UPI News Service, 09/19/2006
Real estate tycoon Donald Trump is now selling condos marketed to the 55-and-over demographic, The New York Daily News reports.
Trump, who turned 60 this summer, is making his first senior development a four-story, $112 million luxury building in Yorktown, in New York's Westchester County.
The Trump Park Residences, a 141-unit complex, sits on 50 acres and overlooks a lake. To own a unit, at least one buyer must be 55 or older.
Baby boomers, 75 million adults, are the United States' largest population segment. They are also the most wealthy, Daily News said. Every seven seconds a baby boomer turns 60.
"If you look at the demographic, it's great," Trump said.
The Trump Park Residences are comprised of one-, two- and three-bedroom apartments, priced from the mid-$500,000s to $1.2 million. The complex includes an indoor and outdoor swimming pool as well as biking and running tracks.