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Montreal family trust pays $5.8M for Trump Hollywood PH
The buyer also spent $1M on furnishings
UPDATED Nov. 4:20 p.m.: A Montreal-based family trust just paid $5.8 million for a two-story penthouse at Trump Hollywood — a steep discount off its $8.5 million asking price.
The buyer spent a total of $6.8 million, with $995,000 for the penthouse’s furnishings that included Tonino Lamborghini furniture, said Marc Hameroff of Engel & Völkers Miami. He had the listing for PH#2 at 2711 South Ocean Drive with Alina Pogorelova of Engel & Völkers New York. The buyer was represented by Harry Polsky of Global Luxury Realty LLC.
Records show the buyer is the Dangot Trust, with Florence Ruttenberg as trustee. The trust is based in Montreal. Hameroff said the seller is Russian but declined to name him. The penthouse last sold for $6.07 million in 2011.
Hameroff listed the 8,170-square-foot, seven bedroom, eight-and-a-half bathroom unit in March for $8.5 million, so it sold for a 32 percent discount off the most recent asking price. The penthouse had been on and off the market with other brokers since 2015, priced as high as $17 million, according to Zillow.
“It’s very challenging to sell a penthouse in Hollywood,” Hameroff said. “If we moved it down the street to Sunny Isles it would sell for two-and-a-half times the price.”
The 41-story Trump Hollywood was developed by the Related Group in 2009. Its 200 units reached a total sellout of $306 million in 2012.
Correction: A previous version of this story misstated the buyer’s identity.