Trump Soho was 50 percent sold at the end of 2008, Osher says

TRD New York /
Jul.July 12, 2010 10:00 AM

Despite recent reports that Trump Soho sales have been weaker than claimed,
Shaun Osher, the founder and chief executive of boutique residential
brokerage Core, contends that the project was, at one point, 50 percent
in contract. Core had been charged with marketing the building to the
local and national markets until December 2008 alongside Prodigy
International, which was focused on international sales.”There were
some people that dropped out [after December 2008]” Osher told the New
York Times this weekend. As The Real Deal
reported last month, documents from the attorney general’s office
showed that the building was less than 16 percent in contract.
Meanwhile, Osher said activity elsewhere has picked up since a year and
a half ago, when the market had come to a virtual standstill. Core,
whose agents regularly appear on HGTV’s “Selling New York,” just
finished selling out the HK Organization’s 246 West 17th Street for
nearly $1,800 a foot, and has returned to the 80 percent-sold mark at
141 Fifth Avenue after a number of original buyers backed out of their
contracts during the downturn. [NYT]

 

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