The group of disgruntled Trump Soho buyers who decided they wanted out shortly after units at the condo-hotel began to close filed a lawsuit against the developers yesterday, the Times reports. The 15 buyers involved in the suit signed contracts for only six units, and they still claim that they wouldn't have agreed to purchase the units at all if they had known just how inflated the building's sales numbers were. In addition to the developers, the suit names Donald Trump and his children Ivanka, Eric, and Donald Jr. There's a conversation starter for the next family dinner!
In Trump Soho's defense, an attorney for developer the Bayrock/Sapir Organization claims more than 100 contracts (about 25 percent of the building's total condo units) have actually been signed, though only 20 have closed. The developer just decided to report only the minimum 15 percent required by the attorney general's office. Why? It's not for us mere mortals to know.
· Buyers File Suit Against Trump Soho Condo Project [NYT]
· Sixteen Trump Soho Buyers Rebel Over 'Fraud' [Curbed]
· Trump Soho coverage [Curbed]