Trump announced plans for his Manhattan building “Trump SoHo” on his show The Apprentice back in the June of 2006. Trump SoHo was one of the center pieces of Trump’s real estate empire. But that’s right, it was one of the center pieces.
The Trump Organization has now been forced to completely abandon the property by the end of next month, the company announced today. Trump’s name will be completely eliminated from the property, just like earlier this year when it was removed from a potential Trump tower in Toronto.
— FingersUpforDT (@FingersUpforDT) November 22, 2017
Trump SoHo is located in an upscale neighborhood in Manhattan in New York City. Even after dropping its rates, it has been unable to fill rooms or sell condos in the building. It’s a complete business disaster.
Felix Sater + Arif + Trump
Were always the Russian Money Laundering Mobster Trio.
Inclusive prostitution (Trump SoHo)… pic.twitter.com/O1Fky5eMdX
— P0Pz (@P0PziC0la) November 8, 2017
The Trump Organization just lent its name to the building and assisted with day to day operations, but the actual owner of the property is a California investment firm. The Cali based investment firm is actually going to pay extra to remove the Trumps from the deal they agreed to over the property, which gave the Trumps a cut of the building’s profits.
Even with the financial difficulties Trump SoHo hotel has been experiencing, it has been considered a “signature property” in the “backyard” of the Trump family empire, which makes the removal of it from Trump’s real estate portfolio quite a surprise. This is the first time Trump has ever had one of the crown jewels of his business empire fail, easily making it one of his worst. It seems as though there are real consequences behind Trump’s behavior after all.