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Trump Soho Developers Will Give You a Loan, If You Dare

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Last time we checked on Trump Soho, the condo-hotel troubled by inflated sales numbers and remorseful buyers, the sales scorecard stood at 11 out of 391 units. It's now inched up to 20 out of 391. (But hey, revenues on the hotel side are apparently 30 percent ahead of internal projections!) Most of those sales have been all-cash, so developers Sapir Organization and Bayrock Group decided the sluggish sales were due to financing troubles. To solve that problem, the Journal reports, Trump Soho will now be offering direct financing to buyers. There are no details yet on exactly how the financing plan will work, but do any prospective Trump Soho buyers really want to be in debt to a guy who's been busted for smuggling illegal ivory? Missing a payment sounds like an easy way to be roped into an endangered animal pelt smuggling ring.
· Trump SoHo to Offer Easier Condo Loans to Lure Buyers [WSJ]
· Trump Soho coverage [Curbed]

Trump Soho

246 Spring Street, New York, NY 10013