It began in 1985, when Trump paid $115 million for an abandoned rail yard on Manhattan’s West Side and unveiled plans to turn it into the city’s largest development. Jerry Nadler helped derail the doomed project.
It’s worth reviewing the facts of the Trump-Nadler feud to decipher what’s going on.
He negotiated with the City Council, and even with Nadler, to scale down the project—but not enough to secure a deal. Hemorrhaging money from other projects, he sold the rail yard, on which he’d started to construct 20 buildings , to a group of Hong Kong businessmen. It was quite a deal. The Hong Kong businessmen paid Trump $90 million, assumed his debts and back taxes , and let him retain 30 percent ownership of the complex.
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