The Real Deal New York

Amid poor sales, Trump Soho may dump condo component

About a third of the units -- which can function as part-time apartments -- remain unsold
January 28, 2015 08:30AM

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.

Donald Trump’s Trump Organization does not own a stake in the property but operates the hotel and licenses its name to the property.

The 46-story property houses 391 units that can be used as part-time condominiums for 120 days of the year. The rest of the time, they’re used as hotel rooms. [Bloomberg] — Claire Moses

  • irobot

    Exactly what I said it should have been built when the announced the crazy idea of hotel condo units that owners couldn’t stay in for more than 28 days at a time with CRAZY carry costs…..

  • Two Piece and Biscuit

    This failure will HUUUUUUGE!

  • Oouch

    Lose the name. It’s become a liability.

    Although, you have to admit the irony that billionaires paying $100,000,000 for an apartment they may likely stay in less than 28 days a year are making today’s market, while this ‘clever idea’ turns out to be about as useful as a Cuckoo clock- when simple hotels are booming.

  • no-permits

    he’s a loser.

  • Trump the Loser

    SoHo to Trump! = Loser!

    Trump the Strumpet was warned the activists would litigate this project to death – and so they did.
    His loss is a warning sign to other developers to show common sense when dealing with downtown activists. We take no prisoners.

  • Nick

    you’re fired !

  • smythe

    too funny