Page 71 - Trump Never Give Up: How I Turned My Biggest Challenges into Success

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T R UM P: N E V E R G I V E U P

the New York Post. What a lot of people don’t know is that it was
formerly the Gulf & Western/Paramount building. It was
owned by General Electric, which had Jack Welch, John Myers,
and Dale Frey at the helm; and it was an office building. It really
stands out because it’s one of the few tall towers on the West
Side. It went up in the early 1960s, just before zoning laws were
passed that would prohibit such a tall building at that location.
This building managed to attract a lot of attention, not
just because of its height, but because of some construction prob-
lems that had the tenants on edge. For one thing, it swayed in
the wind and would flex at the top with winds of only 15 miles
per hour. All buildings have some flexibility but this
was an exceptional situation. Elevators would stop, and some ten-
ants even said they felt seasick. Once, when there was a high
wind, the upper windows fell out. These episodes were legendary.
Let’s just say this building had some problems, some pretty
major problems. Also, it was not constructed very well because
the outside curtain was made of glass and cheap aluminum, and
it was chock full of asbestos. The good news was that the
building structure was classic and had wonderfully high ceil-
ings. It was worth saving for those important reasons alone.
When I heard this building was for sale, I called Dale Frey
and asked to meet him. That’s when I found out he was receiv-
ing calls from many major developers around the country. I
would have a lot of competition. However, I arranged for a
meeting, and I explained that if the building was completely
demolished, it could only be rebuilt as a 19-story building versus
the 52 fabulous stories that it was. That alone was a big reason
to see what could be salvaged, but it would require a lot of
research, which I immediately started doing.
What I suggested was that the steel structure could be
strengthened, and the high ceilings would be ideal for a residen-
tial building, which was also a hotter item in the market than a
business space would be. This was the perfect location for a lux-

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