The Real Deal New York

Trump Soho marketed to UAE buyers

June 30, 2008 10:07AM

 
The Trumps are marketing the Trump Soho hotel-condo to buyers from the United Arab Emirates.

Donald Trump’s kids — Donald Jr., 30, Ivanka, 26, and Eric, 24 — are marketing the hotel-condo to rich businessmen and foreigners who divide their time between Manhattan and other several other homes.

The 454-foot tower rising at 246 Spring Street tower will have 141 suites, 253 studio suites, five penthouse suites and one presidential suite. Studios starts at $1.2 million. The units range from 422 to 905 square feet.

Zoned as a hotel, owners of the condo-units can stay in their suites for 120 days of the year. For the remaining 245 days, the units are rented out to profit the investors.

Opponents of the tower say it violates zoning regulations. The SoHo Alliance has led a campaign against the tower, with support from the Greenwich Village Society for Historic Preservation and local community boards.

Trump Soho was recently named one of New York City’s ugliest buildings by Mitchell Joachim, an architecture professor at Columbia University and partner at Terreform.

The Bayrock Group is Trump Soho’s financial partner, and Prodigy International is handling marketing. TRD

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