Former Trump Soho hotel hit with tax lien from city

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

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
Turnbridge Equities founder Andrew Joblon, KKR co-founder Henry Kravis and the distribution center (Getty, Turnbridge)
Turnbridge, Dune land $381M loan for Hunts Point site
Turnbridge, Dune land $381M loan for Hunts Point site
Vanbarton Group’s Gary M. Tischler and Richard Coles with Marble Collegiate Church at 1 West 29th Street (Getty)
Vanbarton Group, church sued by foreign investors in fallout from HFZ debacle
Vanbarton Group, church sued by foreign investors in fallout from HFZ debacle
Ron Moelis, CFO and Founding Partner at L+M, and David Thompson, CFO and Principal at CIM, with the Two Bridges project (L+M, CIM, SHoP Architects)
CIM Group, L+M Development file plans for 1.3M sf Two Bridges tower
CIM Group, L+M Development file plans for 1.3M sf Two Bridges tower
The agency is challenging $21 billion in deductions over a three-year period (Getty)
IRS probes promoters of tax-deductible property easements
IRS probes promoters of tax-deductible property easements
Northwind Group managing partner Ran Eliasaf and 165 Lexington Avenue (Northwind Group, Brooklyn North Capital)
Brooklyn North Capital, RiverBrook score $49M loan for Kips Bay condo
Brooklyn North Capital, RiverBrook score $49M loan for Kips Bay condo
One man, two companies, three bankruptcies
One man, three bankruptcies: Verrino Construction files for Chapter 7
One man, three bankruptcies: Verrino Construction files for Chapter 7
arrow_forward_ios

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

Loading...