Trump SoHo Targets Foreign Buyers
- Jun 30, 2008
New York–The upcoming Trump SoHo is being marketed by a unique team–instead of Donald Trump, his children Donald, Eric and Ivanka will be promoting the residences.And Trump SoHo is being marketed to a unique clientele: Businessmen and wealthy foreigners who own several homes–and can foot the price for a unit in the condohotel, where studios will be priced starting at $1.2 million, the Times Online reports.”People in the U.K. and continental Europe are buying at a 30 percent to 40 percent discount,” Donald Trump Jr. told the Times Online. “It’s probably not benefiting at the low end and the middle of the housing market but, certainly, for us it’s a big benefit. You’re really talking here about the top one tenth of the top 1 percent of people in terms of wealth. They are a little less susceptible to the liquidity crisis. Perhaps it’s not quite as convenient to buy real estate, but they are still able to buy.”About 60 percent of the units have been sold in the Manhattan building, which will feature a top floor bar, nestled 480 feet above the city, and Turkish baths.