The Real Deal Miami

Trump Hollywood sales sluggish

July 26, 2010 11:15AM

Trump Hollywood has closed just 16 units in the last year

There have been just 16 closed sales at the 200-unit Trump Hollywood in the last
year, according to an analysis by Condo Vultures. Last August, developer
Jorge Perez of the Related Group had said he’d found buyers for more than two-thirds of the
200 units at the project, which he built with Donald Trump. “There‘s no
question that Trump Hollywood is an anomaly in the market, and that’s
why sales have been so slow,” said Condo Vultures principal Peter Zalewski, who said many buyers may be waiting for price cuts, like the ones that eventually came after sluggish sales at another Related Group project, Icon Brickell. Bulk buyers are unlikely to show interest in Trump Hollywood, he added, because the units are too large to be profitable for those types of investors. [Sun