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Trump Soho Update: 60% Sold, Limits Will Be Enforced

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The Trump clan is going after wealthy foreign buyers to inhabit (for 120 days per year) the Trump Soho condo-hotel, and yesterday they landed some ink in the UK's Sunday Times. First: the sales update. In February, the building was reported to be 53% sold. By April, that number hadn't changed. Now?and congrats to all three Trumplings forced to travel the world for this clunker?the reported sales figure is up to 60%. But let's move beyond that for now. Some foreign coverage presents the perfect opportunity for the Trumps and their associates to do a little wink-wink-nudge-nudge on the 120 days rule. Surprisingly, they are sticking to the script:

Trump SoHo is a so-called “hotel /condo” project. Buyers will own a hotel room but have the right to live there only 120 days a year. The rest of the time it will be rented out by the hotel, generating income for the investors. Property zoning laws mean that Trump SoHo owners will have to abide by the rule. No matter who the resident or how much has been paid, they will be barred from living there for more than 120 days a year, the Trumps insist. Recent reports in New York newspapers suggested there were loopholes but Julius Schwarz, executive director of Bayrock Group, Trump SoHo’s financial partner, said the rule would be strictly enforced. Many buyers were in any case unlikely to spend 120 days in residence.Interesting, though we've said it before: Nobody puts Zlatan in a corner! Try telling a Swedish striker where he can or can't rest his head, and wake up to find a unicorn head in your bed. Unicorns being native to Sweden.
· Trump kids bet on rich Europeans to back New York hotel/condo [Times]
· Trump Soho coverage [Curbed]

Trump Soho

246 Spring Street, New York, NY 10013