Montreal family trust pays $5.8M for Trump Hollywood PH

The buyer also spent $1M on furnishings

Miami /
Aug.August 28, 2018 06:00 PM

Marc Hameroff and the unit

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.


Related Articles

arrow_forward_ios
Donald Trump Jr. and Kimberly Guilfoyle with 492 & 494 Mariner Drive (Getty, Google Maps)
Jupiter’s Admirals Cove residents speak out against Don Jr. and Kimberly Guilfoyle’s plans to move in
Jupiter’s Admirals Cove residents speak out against Don Jr. and Kimberly Guilfoyle’s plans to move in
Cortland Partners CEO Steven DeFrancis and 1900 to 2300 North 29th Avenue, Hollywood (Google Maps)
Cortland pays $92M for Hollywood apartment complex
Cortland pays $92M for Hollywood apartment complex
535 North County Road (Palm Beach Property Appraiser)
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
President Donald Trump with Melania Trump and Mar-a-Lago (Getty)
Florida representative wants Mar-a-Lago shut down following maskless NYE party
Florida representative wants Mar-a-Lago shut down following maskless NYE party
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
Background photo: Hannukah reception in 2019, Getty; President Donald Trump via gdizzle99/Instagram, inset
Real estate players celebrate Hanukkah at Trump’s White House party
Real estate players celebrate Hanukkah at Trump’s White House party
Robert Suris and a rendering of the project
Hollywood approves downtown demolition, paving way for mixed-use apartment project
Hollywood approves downtown demolition, paving way for mixed-use apartment project
arrow_forward_ios

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

Loading...