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Trump Plaza loan recipients sell unit for $5.6M
Schoemans were asked to pay $3M when their co-op bought the building's land-lease
Michael and Diane Schoeman, squeezed by the Trump Plaza‘s land-lease buyout, have quit the building.
The pair sold their unit at the co-op, located at 167 East 61st Street, earning $5.6 million, a bit below the $6 million asking price.
The Schoemans were part of a small number of Trump Plaza residents who couldn’t pay their share or take a mortgage when the co-op decided to buy the building’s land-lease for $190 million late last year.The couple, whose share was assessed at $2.8 million, received a “support loan” from the co-op, at 5 percent interest, to be paid back when the Schoeman’s sold the unit, the New York Post reported.
The couple, who are the first owners to resolve their support loan, will have to swallow the $1.5 million they spent renovating the building, according to the New York Times.
Nest Seekers Internationals’ Ryan Serhant, Kaptan Unugur and Linda Ho had the listing. [NYP] – Ariel Stulberg