Fifteen disgruntled Trump Soho buyers filed a lawsuit at the beginning of the month in the hope of backing out of their condo contracts. They claimed they had been defrauded into thinking the condo-hotel's unit sales were higher than they really were, and that they'd been shortchanged on the promised hotel amenities and staff. The legal maneuvering appears to have worked, because the Journal reports that in-contract buyers at Trump Soho are being offered discounts of up to 25 percent to seal their deals. The discounts are being handed out on a case-by-case basis, but we're guessing a certain 15 buyers (who are in contract for six of the 100 units that have allegedly found takers) are at the front of the line. Of course, the building's sales and marketing folks tell the Journal, the units are still closing at more than $2,500/square foot. So those sky-high asking prices ended up being good for something.
· Discounts Offered at Trump Soho [WSJ]
· Trump Soho coverage [Curbed]