[52] The hotel reopened in 1980 as the Grand Hyatt Hotel,[53] and that same year, Trump obtained rights to develop Trump Tower, a mixed-use skyscraper in Midtown Manhattan.[54] The building houses the headquarters of the Trump Corporation and Trump's PAC and was Trump's primary residence until 2019.[55][56]
In 1988, Trump acquired the Plaza Hotel in Manhattan with a loan of $425 million (equivalent to $974 million in 2021)[33] from a consortium of banks. Two years later, the hotel filed for bankruptcy protection, and a reorganization plan was approved in 1992.[57] In 1995, Trump sold the Plaza Hotel along with most of his properties to pay down his debts, including personally guaranteed loans, allowing him to avoid personal insolvency.[58][59]
In 1996, Trump acquired the mostly vacant 71-story skyscraper at 40 Wall Street, later rebranded as the Trump Building, and renovated it.[60] In the early 1990s, Trump won the right to develop a 70-acre (28 ha) tract in the Lincoln Square neighborhood near the Hudson River. Struggling with debt from other ventures in 1994, Trump sold most of his interest in the project to Asian investors, who were able to finance completion of the project, Riverside South.