Can Trump trump in Soho?

New York /
Mar.March 29, 2010 01:56 PM

While early sales at the Trump Soho hotel-condo project had investors optimistic, the 46-story building, which is expected to open April 9, has seen activity grind to a near-halt, according to the Wall Street Journal. With roughly a third of the building’s 391 units in contract, industry insiders are saying that the Soho’s so-so performance is representative of larger problems in the condo-hotel market. Many attribute the nationwide slowdown to a lack of available credit, while other experts are quick to point to the lackluster hotel industry, in which there is little enthusiasm for new projects. Of course, to ask New York Magazine, which recently released a scalding review of the building, the Trump Soho’s problem is that it’s just not cool enough for that neighborhood. A “cornucopia of walnut paneling and aubergine calfskin settees tries to attenuate the suspicion that this building doesn’t really want to be here,” the magazine’s reviewer, Justin Davidson, said. “It’s tall, but it lacks its namesake’s swagger.” [WSJ] and [NYMag]


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Joseph Chetrit with 427 and 459 (left) Broadway (Getty, Beyond My Ken/Wikimedia)
Chetrit Group falls behind on Soho portfolio mortgage
Chetrit Group falls behind on Soho portfolio mortgage
Eric and Lara Trump with 502 Bald Eagle Drive in Jupiter (Getty, Google Maps)
More Trumps buy in South Florida: Eric, Lara paid $3M for Jupiter home
More Trumps buy in South Florida: Eric, Lara paid $3M for Jupiter home
Donald Trump and 40 Wall Street (iStock, Sterlfilms/Wikimedia)
40 Wall’s valuation chop means tax savings for Trump Org
40 Wall’s valuation chop means tax savings for Trump Org
A judge declined to issue a temporary restraining order blocking the Soho rezoning. (Getty)
Judge declines to block Soho rezoning; proposal remains on hold
Judge declines to block Soho rezoning; proposal remains on hold
Jamie Dimon, Steve Roth, Donald Trump and 555 California St. (Trump, Getty)
Vornado lines up $1.2B refi of SF tower co-owned with Trump
Vornado lines up $1.2B refi of SF tower co-owned with Trump
President Joe Biden (Getty, Education Next)
Biden administration considers Opportunity Zone overhaul
Biden administration considers Opportunity Zone overhaul
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...