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By Brett Malvin | Agent in New York, NY

A Sneak Peek at Trump Soho

Last week, the newest addition to the collection of buildings by the real estate mogul everyone loves to hate (Donald Trump) was revealed. Trump Soho’s grand opening took place last Friday, and the condo-hotel combination is off to a good start. Reports state that Trump Soho was almost fully booked last weekend. Hospitality blog Hotel Chatter got a peek inside, and they claim they’re liking the interiors.

As is the New York Daily News. They report, “This building is a design surprise. Inside is as intimate and understated as the outside is tall and imposing. It’s more upscale, futuristic lodge than glitzy hotel. There’s not a hint of diamond anywhere. Gold leather armchairs against a lobby wall are the only visible ostentation.

“This is super-luxurious, young, downtown and hip at the same time,” says Donald Trump, whose children Don Jr., Ivanka and Eric quarterbacked the project with Alex Sapir, the 29-year-old principal of the Sapir Group, the building’s owner. “That’s something New York hasn’t seen in a long time. Just look at the disco with the exposed deejay booths in the middle. The kids did a great job. This place will catch on fast.”

Youth is obvious here. The Web site pumps house music to would-be buyers and guests. The hotel has an outdoor swimming pool bar that will open to the public on weekday evenings this summer and a lobby lounge with wood walls that will have a door policy at night.

Buyers at Trump Soho can stay at their units for no more than 29 days in a month and no more than 120 days per year. When the buyers are not there, the hotel rents out the rooms for $389/night. It’s a smart business model, but sales, reportedly, are a bit sluggish (currently, they sit at about 30%). The Trump family has not invested any of their own money should the project go downhill; additionally, experts seem to think that the sluggish sales are merely a sign of the economy, not of issues with the project.

The hotel-condo structure allows us options,” says Trump Jr. “We’re hoping to be profitable from each, especially as people see the building and the global economy rebounds. Everyone wanted to criticize this building before they even saw it. We’re Trumps. We’re used to it by now. But this building, it speaks for itself.”

The best part about Trump Soho is perhaps its height. Though the Soho Alliance pitched a fit, the building stretches higher than any other in Soho, providing incredible views from all sides – and more importantly, views that, despite any other building in the area, won’t be obstructed in the future.

“We’re glad we’re this tall,” says Trump Jr., who notes that the building will employ 350 to 400 people once it’s fully operational, a boost to the neighborhood’s and New York’s economy. “This will stay on top of SoHo forever. There are no views like this in the city.”

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