NEW YORK CITY-In a bid to boost sales, developers of Trump SoHo, Bayrock Group and Sapir Organization are offering credit facility to potential buyers for purchasing condos in the hotel/condo tower. Of the 391 units only 20 have been sold.
One reason why sales have not picked up is the new zoning law, which states that owners can occupy them for only 120 days in a year and for the remaining it will function as a part of the hotel. For the full story, go to Wall Street Journal.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
