With a slow and numerically confusing start to sales, a vocal group of disgruntled buyers, and everything from loans to 25 percent discounts needed to keep those buyers in the fold, Trump Soho is trying hard to stay afloat. Its latest strategy: scrounging up more money. The condo-hotel has gotten another $20 million in financing from its lender after restructuring its mortgage, The Real Deal reports. The development and sales teams are probably grateful for the cheer-up, because the building's StreetEasy page shows that Trump Soho's first two under-$1 million closings happened in August. The units closed for $922,073 and $869,737 after a string of sales that topped out over $2.2 million.
· Trump Soho gets $20M infusion [Real Deal]
· Trump Soho coverage [Curbed]
Filed under:
Loading comments...