Former Trump Soho hotel hit with tax lien from city

Now called the Dominick, the hotel no longer has ties to the president

TRD New York /
Apr.April 04, 2019 11:00 AM
The Dominick at 246 Spring Street (Credit: Google Maps)

The Dominick at 246 Spring Street (Credit: Google Maps)

They may have dropped the name, but the owners of the Dominick can’t seem to shake the Trump legacy.

The hotel formerly known as Trump Soho Hotel Condominium has been issued with a tax warrant for $35,193, according to Crain’s. CIM Group’s hotel was rebranded as the Dominick in November 2017, after ending a licensing agreement with the Trump Organization.

The original project at 246 Spring Street was a collaboration between the Trump Organization and developers Tamir Sapir and the Bayrock Group, led by Russian-American Felix Sater, who sought to develop a Trump Tower in Moscow with the Trump Organization.

Plans for Trump Soho were first released on “The Apprentice” in 2006.

In 2011, buyers at the building filed a federal lawsuit against the Bayrock and the Sapir Organization alleging they misrepresented sales figures. The developers settled the suit, refunding the buyers 90 percent of their deposits.

Manhattan District Attorney Cyrus Vance’s office also investigated whether Ivanka Trump and Donald Trump, Jr., had made false claims to potential buyers about the sale of condos at the site, according to a 2017 joint investigation by WNYC, the New Yorker and ProPublica.

The hotel’s current owners, the CIM Group took over after foreclosure proceedings in 2014. They purchased the management and license agreements from the Trump Organization in 2017 for at least $6 million, although the exact breakup fee was not disclosed. In February, it was reported that CIM was considering selling the hotel. [Crain’s] —Decca Muldowney

 

Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Nightingale’s Eli Schwartz and 111 Wall Street (Credit: Google Maps)

Nightingale, Wafra seek $860M to redevelop 111 Wall Street

Nightingale, Wafra seek $860M to redevelop 111 Wall Street
(iStock)

Banks see CRE loans delinquencies hit 5-year high

Banks see CRE loans delinquencies hit 5-year high
HFZ Chairman and Founder Ziel Feldman (Credit: Monica Schipper/Getty Images)

Four of HFZ’s condo loans being shopped in foreclosure sale

Four of HFZ’s condo loans being shopped in foreclosure sale
30-77 Vernon Boulevard in Queens and Cape Advisors CEO Craig Wood (left) and 720 West End Avenue in Manhattan with Brack Capital Real Estate CEO Ariel Podrojski (right) (Images via Cape Advisors; Google Maps; LinkedIn)

The biggest loans of the slowest month: August’s real estate lending

The biggest loans of the slowest month: August’s real estate lending
FHFA Director Mark Calabria and PIMCO CEO Emmanuel Roman (Getty, iStock)

PIMCO warns of danger in Fannie, Freddie privatization

PIMCO warns of danger in Fannie, Freddie privatization
Avi Shemesh, Richard Ressler, and Shaul Kuba, and the towers

CIM’s $500M multifamily buy in Northern Virginia among priciest ever

CIM’s $500M multifamily buy in Northern Virginia among priciest ever
arrow_forward_ios

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

Loading...