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Foreclosure Possibly in the Cards for Trump Soho?

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Will Trump Soho, the condo-hotel of discounts, refunds, and international hooker rings, ever have a week free of drama? It's hard to imagine. Not least because of the latest development at the controversial project: its debt is up for sale. If the sale goes through?CIM Group is, according to the Journal, close to buying it from Trump Soho lender iStar Financial?the buyer could foreclose on the project should condo sales fail to meet CIM's goals. That doesn't seem like such a far-fetched outcome. StreetEasy shows closings for only 32 of 391 units so far, and it's not like other buyers in contract have been ecstatic to move in. Perhaps a "Ward Off Foreclosure Dreams!" pillow would help.
· Trump Soho Debt on Block [WSJ]
· Trump Soho coverage [Curbed]

Trump Soho

246 Spring Street, New York, NY 10013