Trump Soho Manages a Comeback

After suffering scrutiny from dissatisfied consumers, and because of sluggish sales in the market, Trump Soho is struggling to stay in business. According to Curbed NY, the agitated buyers filed a lawsuit against developers after they found out how exaggerated the sales numbers were. According to the buyers, reporting inflated sales violates numerous laws and is grounds for cancellation of their agreements. Trump Soho offered discounts up to 25% in order to keep the buyers from terminating their contracts. 

In its latest attempt to stay afloat, Trump Soho received $20 million in loans after a mortgage restructuring agreement with iStar financial. This additional financing, from iStar financial, signals continuing confidence in their biggest client. This is excellent news for the developers, since the condo-hotel prices are steadily sinking. The building recently closed the first two UNDER $1 million properties for $922,073 and $869,737 after having sold units for OVER $2.2 million.  

                                                                  Courtesy of NY Curbed