Trump International Realty, the recently launched brokerage firm founded by developer Donald Trump, held a press event in Manhattan today to kick off sales at Trump Tower Punta del Este, an apartment tower planned for Uruguay’s coastal region.
The firm has partnered on the project with two Argentine companies, YY Development Group and architecture firm Dujovne–Hirsch & Associates. YY’s Pablo Pelenur, who is heading up sales, said asking prices for the units would start at $700,000, with the median price around $2.5 million. The brokerage firm is targeting New Yorkers, as well as buyers in Mexico, Spain and elsewhere.
Eric Trump, an executive vice president at Trump International, described Punta del Este as “the Hamptons of South America,” and said that the building would contain relatively few—but large—units.
“We’re really going for the more discerning buyer in that market,” he told The Real Deal at the event, held at the Trump Tower at 725 Fifth Avenue. “All of the people that gravitate towards that area want to be in Punta del Este.”
Construction is scheduled to start in six months, with completion set for three years later.
The development will also feature indoor tennis courts, indoor and outdoor pools, barbeque pits, massage rooms, conference rooms and movie theaters. “That’s what people who will be buying [in] this building want,” Eric Trump said.
“It’s going to be one of the great buildings in all of South America,” Donald Trump said at the event. “I have friends that live in Uruguay and they love it,” he added. “We’ll bring a great awareness to how beautiful it is.”
As The Real Deal previously reported, Trump International Realty opened last month and has 20 agents spread across four Manhattan offices, including a storefront flagship at 108 Central Park South. The firm also has offices in Chicago and Las Vegas.
Its exclusive listings include a two-bedroom at the Hampshire House at 150 Central Park South listed at $8.5 million and a $75,000 rental at 240 Riverside Boulevard.