Has only sold one-third of units in new SoHo hotel.
Donald Trump’s new hotel and condominium, Trump SoHo, is set to open April 9—with only one-third of its 391 units in contract. The troubles are piling up for Trump: The Trump International Hotel & Tower in Fort Lauderdale, Florida faces foreclosure after its developer defaulted on a loan; the Trump International Hotel & Tower in Las Vegas restructured with its creditors last year. The Trump SoHo’s developer is already in restructuring talks with creditors who hold $350 million in debt. The 46-hotel sells units starting at $1.2 million for a studio that the investor can stay in for only 120 days a year; the rest of the time, the room is rented out as a hotel room.
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