Trump Soho Opens
After years of work and controversy, the Trump Soho Hotel Condominium is now open, and local newspapers from the Wall Street Journal to the Daily News are already warning that Donald Trump's new condominium hotel is in trouble.
"This was not an easy one - getting it built, getting it zoned, getting it everything," said Donald Trump at a ribbon cutting on Friday with his development partners, the Sapir Organization and the Bayrock Group.
A local group, the Soho Alliance, opposed the building at every turn, from the zoning (does a condo-hotel really meet the requirements of the site's "transient" hotel zoning?) to the protection of a historic site (workers digging the foundation uncovered the remains of an old burial ground).
But don't write the Donald off yet. Trump Soho's hotel condominiums are now selling for as much as $3,000 a square foot, according to Eric Trump, and more than a third of the condos are now under contract. Sales should begin to close this month. And true to form, the Trumps are not conceding an inch.