The Real Deal New York

Posts Tagged ‘Trump Soho’

  • From left: Trump Soho, CIM founders Avi Shemesh and Shaul Kuba

    From left: Trump Soho Hotel, CIM founders Avi Shemesh and Shaul Kuba

    UPDATED, 3:23 p.m., August 7: The tax-assessed value of the 263 residential condominium units owned by CIM Group at the Trump Soho is $102.3 million, according to property records filed with the city Friday. [more]

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  • Donald Trump and the Trump Soho at 246 Spring Street

    Donald Trump and the Trump Soho at 246 Spring Street

    Donald Trump may have been more involved in the 2008 death of a construction worker at the Sapir Organization’s Trump Soho hotel than he originally let on. [more]

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  • The Trump Soho and a turkey sandwich

    The Trump Soho and a turkey sandwich

    The Trump Soho is in trouble again, but this time it’s for serving an orthodox Jewish man a cold non-kosher turkey sandwich and lying about it. [more]

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  • From left: the Trump Soho Hotel and Donald Trump

    From left: the Trump Soho Hotel and Donald Trump

    Owners of the Trump Soho are mulling ditching the property’s condominium component and operating it solely as a hotel.

    Los Angeles-based CIM Group took control of the building late last year after foreclosing on the original developers, Sapir Organization and Bayrock Group, according to Bloomberg. CIM will no longer market the condos that are still unsold, according to the website, and will turn those units into full-time hotel rooms. [more]

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  • From left: Donald Trump and the Trump Soho

    From left: Donald Trump and the Trump Soho

    CIM Group, a real estate investor, has won a foreclosure auction that allows it to take control of New York’s Trump Soho hotel and condominium. [more]

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  • Lender to put Trump Soho Hotel up for sale

    September 16, 2014 03:05PM
    From left: the Trump Soho Hotel and Donald Trump

    From left: the Trump Soho Hotel and Donald Trump

    The Trump Soho is reportedly being sold.

    CIM Group, one of the lenders to the upscale condominium-hotel, is foreclosing on the property and plans to auction it off, the Wall Street Journal reported. CIM Group holds a junior loan on the property and has taken control of the building through a foreclosure process. CIM Group hired commercial brokerage Eastdil Secured to market the property. [more]

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  • From left: Donald Trump and Moscow's

    From left: Donald Trump and Moscow’s St. Basil’s Cathedral

    A replica of Bayrock/Sapir’s Trump Soho hotel may be Moscow’s first big new hotel in ten years. [more]

    3 Comments
  • From left: Dolly Lenz, the penthouse at Trump Soho and Jessica Alba

    From left: Dolly Lenz, the penthouse at Trump Soho and Jessica Alba

    Actress Jessica Alba is eyeing a $50 million penthouse at Trump Soho listed by superbroker Dolly Lenz. Alba and her husband, producer Cash Warren, were spotted entering the hotel on Spring Street to check out the 10,000-square-foot duplex. [more]

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  • trump-soho-audits

    From left: Andrew Berman, Scott Stringer, Trump Soho and Jim Petrus

    The developers of the Trump Soho are being accused by the city of failing to file annual audits that they agreed to as a condition for building on land not zoned residential. [more]

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  • Donald Trump and the Trump Soho at center

    Donald Trump and the Trump Soho at center

    The Trump Soho condominium-hotel has filed suit against its insurer, Affiliated FM, for allegedly rejecting its claim for Hurricane Sandy-related issues, and also accused ConEdison of gross negligence, Crain’s reported.

    The suit could be the first to test the power utility’s claim that a flood at one of its substations, rather than an explosion, caused the blackout south of Midtown, allowing insurers to dodge liability for Sandy-related claims. [more]

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  • 254 Park Avenue South

    254 Park Avenue South apartment sets a building price record. Cohen Commercial buys Bronx retail spot for $11.4 million. Trump Soho condo up for sale for $1.9 million — in Bitcoins. Brooklyn park dedicated to late Beastie Boys member. Housing recovery lends hand to job market. Read these stories and more after the jump.

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  • Bitcoins

    Here’s more evidence Bitcoin isn’t going anywhere.  We’ve found a guy who claims to be putting his Trump Soho condo up for sale. And he will only take payment in Bitcoin.

    Later today, he will advertise the property exclusively on BitPremier, the first-ever online Bitcoin exchange exclusively for luxury goods. The site launches today. [more]

    2 Comments
  • From left: Griffin Court and One Museum Mile

    Brokers have long known that staging homes with works of art can help entice a buyer. Now, developers are also getting in on the art game, the New York Post reported. [more]

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  • A section of the Department of Buildings map with the Trump Soho circled in black. The key shows that the building is listed as a mixed residential and commercial building

    The Trump Soho is a something of a hybrid: a 391-unit condominium tower with restrictions on how long owners can occupy their apartments—a compromise designed to allow developers Donald Trump, the Bayrock Group and the Sapir Organization to build the project, despite the lot’s commercial zoning.

    But a Department of City Planning map, uncovered yesterday by the Greenwich Village Society for Historic Preservation, lists the parcel at 246 Spring Street as a “mixed residential and commercial building.” The discovery has reignited the non-profit’s doubts about the legality of the luxury tower, and what it sees as the city’s special treatment of the developer. [more]

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  • From left: Sara Clephane, Fredrik Eklund and John Gomes

    Prudential Douglas Elliman’s Eklund Gomes team, led by “Million Dollar Listing New York” star Fredrik Elkund and his business partner, John Gomes, has announced the hiring of its newest member: Sara Clephane, a luxury broker who headed up sales at Trump Soho.

    Clephane joined the team this week, after marketing Donald Trump’s downtown tower since 2006. Her arrival marks further expansion for the Eklund Gomes team, which has grown significantly in the last year thanks in part to the publicity the hit Bravo show has garnered for Eklund, who appeared on the show’s first season and is currently filming the second season. [more]

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  • From left: French President Francois Hollande, Amy Williamson, vice president of sales at the Trump Soho, and the Trump Soho

    Move over Russians — there’s a new nationality set to make its mark on the city’s residential real estate market. According to the New York Times, the French are increasingly looking to invest in New York City real estate following the election of Socialist Francois Hollande as president earlier this month. During his campaign, Hollande promised to tax income over £1 million at a 75 percent clip and raise the tax rate on capital gains in an effort to lessen the country’s £1.3 trillion debt. [more]

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  • Trump Soho hotel, condos to be auctioned

    January 18, 2012 04:00PM

    Sapir Org. CEO Alex Sapir and Trump Soho

    The Sapir Organization, the developer of Manhattan’s Trump Soho, is planning to put the hotel and its unsold condominium units on the auction block, Bloomberg News reported. The company, which developed the property with Bayrock Group at Varick and Spring streets, has hired brokerages Eastdil Secured and Jones Lang LaSalle to market the properties.

    Prospective buyers will receive necessary information about the auction today, said Alex Sapir, president of the Sapir Organization; the auction will likely take place later in the spring. [more]

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  • alternate<br /></a>text
    From left: Adam Leitman Bailey, Julius Schwarz, executive vice president of the Bayrock Group, Sapir Organization CEO Alex Sapir and the Trump Soho

    Ten Trump Soho buyers are getting a 90 percent refund on their deposits
    after filing a suit against the Bayrock Group and the Sapir Organization
    alleging they misrepresented sales figures (note: corrections appended). The New York Post reported that a federal lawsuit filed by the buyers against the building’s sponsors was settled yesterday, and they will get 90 percent of the $3.16 million in deposits they combined to have put down on $16.914 million worth of apartments. The buyers claim to have been told as many as 60 percent of the units were sold, when at the time just 16 percent of the hotel-condo units in the building, at 246 Spring Street, were actually sold. Adam Leitman Bailey represented the buyers. … [more]

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  • Park Tower Group, one of the first New York developers to see potential in the Brooklyn waterfront, is brushing off plans for 10 luxury apartment buildings with 4,000 units on a 20-acre plot of land at the old Greenpoint Lumber Exchange, which it purchased almost a decade ago, the New York Observer reported. At least one of the towers should break ground at the site, which is currently used for construction storage and movie lots, by 2012.

    Park Tower, which is headed up by developer George Klein, had delayed the project during the recession and recently shifted its focus at the site to rentals from condominiums to more easily find financing. It hopes to secure construction loans in the coming months. … [more]

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  • From left: Gary Barnett, president of Extell Development, a rendering of One57, Michael Chen, director of Asian market development at Bond New York and Patricia Cliff, the Corcoran Group’s director of international sales

    Sales have unofficially kicked off at One57, Extell Development’s 90-story condominium tower in Midtown, with some prices hitting $6,000 per square foot, according to a source with inside information about the asking prices. The 1,000-foot tall property, at 157 West 57th Street between Sixth and Seventh avenues, is slated to replace New York by Gehry at 8 Spruce Street as the city’s tallest residential building when construction is completed within two years. Extell plans to officially open a sales office at the end of this month, but foreign buyers — primarily from China — have already snapped up some of the units since the developer began shopping them privately last month, according to the source, who asked for anonymity because the information is confidential. … [more]

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