Trump Soho May Ditch Condo/Hotel Concept
Trump Soho may dump its hotel/condo concept and just be a hotel, The Real Deal reports. The 46-story project developed by the Sapir Organization and Bayrock Group has had trouble unloading condo units since they first went on the market back in 2007. CIM Group, the most senior lender on the project, took control of it late last year. The initial concept for the condos was that they’d be pieds-á-terre part of the year and hotel rooms the rest. Doesn’t seem to be working out so hot.