NYC's Trump Ferry Point Off To A Great Start For...Trump

Rich Calder of the New York Post says Trump Ferry Point is off to a fantastic start for Trump Golf.

While the Trump organization does have to build the course a $10 million clubhouse, as Calder notes, the early revenues will undoubtedly remind New Yorkers that Mayor Michael Bloomberg was severely out-negotiated for the right to manage their city-developed course.

The $237 million Trump Golf Links at Ferry Point hosted 28,291 rounds between its April 2015 opening and the end of March, netting nearly $3.8 million in greens fees for the presumptive Republican presidential nominee, city records show.

Including other revenues — such as $615,412 from merchandise sales and $514,223 from golf-cart rentals — Ferry Point’s gross receipts totaled $8.07 million, topping all city-owned courses.

Under an unprecedented 20-year lease handed out during the Bloomberg administration, Trump doesn’t have to pay the city a cent the first four years Ferry Point is open, records show.

Comments

[Gus]

"Ferry Point’s gross receipts totaled $8.07 million, topping all city-owned courses."
Green fees are also more than double any other city owned course, so that kind of helps.

[taffy]

8 mil gross revenue in a year is pretty sporty! I know it is NY prices but still $8 mil is $8 mil.

[digsouth]

Why does a public course need a 10 million dollar clubhouse: does every locker have a private toilet and bidet? This just seems like more Trump excess with gold plated fountains, and other silliness.

So let's see.

Trump doesn't pay the city for 4 years. Trump never pays his contractors, or his lawyers. Whata guy!

[Melvyn's Inner Demons]

@digsouth - it's called capitalism big boy!! No one had a gun to Bloomberg's head. The city wanted the deal and Trump obliged. Looks like the NY folks are choosing with their wallets. If Trump doesn't pay they're more than welcome to file a lawsuit. Until then, enjoy the course or don't - no one cares.

[Tom]

That comes to about $135 per round and about 32,000 annual rounds. It will be interesting to see if that is sustainable. Typically first year rounds on a new course are those who want to see the course. Let's see what the repeat business looks like.
$10M for a clubhouse with that green fee is completely reasonable. Pro shop, restaurant, kitchen, snack bar and event space will eat up $10M pretty fast. I imagine that given the relationships with the PGA and LPGA tours there might be a future tour event in the long term plans so locker rooms might be added

[Pitbull]

Why are people so proud that a NYC muni course paid for by taxpayers is ripping off citizens, pricing out the local community that paid their taxes and lining the pockets of a self proclaimed billionaire?

That is lunacy. I urge people to go down the street to Pelham/Split Rock and support real muni golf!

[Root Canal]

Did Trump pay $237 Million to build the golf course? If so, with $8 Million in gross receipts, would there be enough cash flow to pay the interest on the debt? The $8 Million would have to pay salaries and other operating expenses first. I wonder if the numbers work.

[Gus]

- Weekday non NYC resident is 194 and weekend 225.
- 10 million dollar clubhouse was part of the grandiose vision the was sold to the city/public
- Taxpayers as usual get screwed whenever public money is used for a for profit corporate entity
- The course location is not conducive to holding a tourney. Subways aren't close and the roads to the course are already bottlenecked without any events going on.

[Root Canal]

Whoops, I goofed and posted before I got the facts straight. Apologies.

[Benseattle]

Hey what's better than a new Muni in the neighborhood? An easy-access, affordable, family-friendly little golf track that is open to one and all. This is how you grow the game, folks. Hey, what day is Ladies Day and what time can the juniors take over?

[Peter Norrie]

He needs the money to subsidise Trump Links in Aberdeen! With the down-turn in the oil industry, it's deserted most of the time and not many people are willing to pay the 220 pounds green fee.

[Footer]

What about the expenses? Surely there are some?

[Original AG]

@Benseattle

Ladies' days are Tuesdays and Fridays at 8:00 AM. Show up early or it takes an hour and a half to watch 60 Minutes.

[GBoWR]

Never has there been a more clueless and baseless collection of posts.

[LA John]

What is the NYC resident rate? TPC Harding Park has a non-resident rate of ~$150, and a resident rate of ~$50. There is precedent

[Keith - NYC]

Can't wait to see the graffiti on the Italian marble walls in the Men's Room.

[Hod]

In the deal Bloomberg struck, Trump gets to close down the course for up to 20% of the year for private functions. One in five days? That's one hell of a "public" course.

The agreement originally called for $100 fee weekdays, $125 on weekends. They've blown past that now -- ($117-145).

What I'm curious about is the number of people who, angered by Trump's rants, will now refuse to set foot in the joint anymore. After I played it last year, my first thought was that I wanted to play it again right away. Not now, of course.

[digsouth]

Mel's ID's

OK, but come on, a 10 million dollar clubhouse on a muni? Really......

[Hod]

A bg clubhouse is explainable if private functions etc are a major driver of revenue, and that seems to be the intention here. Also I bet there was some hope (fantasy?) that this would host a US Open, which might not be in the cards now.

[Keith - NYC]

That would be some scene...The US Open being played under the Whitestone Bridge......might draw the largest gathering of windshield washers in the history of panhandling.

[ol Harv]

Hod, I think the greens fees went up when Michael Breed moved his teaching academy on site...

[The O]

There will be a US Open there. And Mexico will pay for it.

[mainuh]

Proposed clubhouse is 12,000 sq.ft - cost at $10,000,000
Construction square footage cost is @ $833.00 a sq.ft.
While not a bargain, more than in line for a commercial project for NYC

rob

[tlavin]

Excrement National. Unless the name is already taken.

[Joe Ezar]

What is the Tax Assessment on the property? Is Trump required to pay the Real Estate Tax on the property or did he negotiate a reprieve?
The Leasehold has to be worth a fortune. Not a Trump fan, but if he did in fact negotiate the terms on this deal, then shame on the officials of NYC. The officials threw the baby out with the bath water. Good deal for Trump, while the city officials look inept.

[Gus]

@Joe Ezar, this whole mess goes back to the '90s if I am not mistaken. The city tried many times to build it and it didn't happen. Too long of a story to post here, but the NY Post, Daily News and Times have been covering this travesty since the beginning. Unfortunately none of the golf reporters for major mags or TV will ever say a bad thing about it. They don't want to upset the apple cart and not be able to play on Trump's courses for free or at a discount. The next journalist that goes after how a course like this does nothing for the growth of the game will be the first.

[The Ghost of Perry Maxwell]

I played it last summer, it is a solid course, good views and so close to the city.

Agree, not sure the numbers work, saw Trump that day having lunch with Mike Davis.

[LICC]

What a bunch of whiners on here. The top 5% of taxpayers in NYC pay 80% of the taxes. Decent golfers in this city love having a world class golf course where they don't have to deal with hackers playing in sneakers and and spending 10 minutes on every shot looking for lost balls. And they are willing to pay more for the better experience. Taxpaying golfers in NYC never had that option before in the city.