Last week, the newest addition to the collection of buildings by the real estate mogul everyone loves to hate (Donald Trump) was revealed. Trump Sohoâ€™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 theyâ€™re liking the interiors.
As is theÂ New York Daily News. They report, â€œThis building is a design surprise. Inside is as intimate and understated as the outside is tall and imposing. Itâ€™s more upscale, futuristic lodge than glitzy hotel. Thereâ€™s not a hint of diamond anywhere. Gold leather armchairs against a lobby wall are the only visible ostentation.
â€œThis is super-luxurious, young, downtown and hip at the same time,â€ saysÂ Donald Trump, whose children Don Jr., Ivanka and Eric quarterbacked the project withÂ Alex Sapir, the 29-year-old principal of the Sapir Group, the buildingâ€™s owner. â€œThatâ€™s somethingÂ New York hasnâ€™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.â€
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. Itâ€™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,â€ says Trump Jr. â€œWeâ€™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. Weâ€™re Trumps. Weâ€™re used to it by now. But this building, it speaks for itself.â€
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 â€“ and more importantly, views that, despite any other building in the area, wonâ€™t be obstructed in the future.
â€œWeâ€™re glad weâ€™re this tall,â€ says Trump Jr., who notes that the building will employ 350 to 400 people once itâ€™s fully operational, a boost to the neighborhoodâ€™s and New Yorkâ€™s economy. â€œThis will stay on top of SoHo forever. There are no views like this in the city.â€
Remember, if you buy your next home with CondoDomain, you can get cash back when you sign!Â Click hereÂ for more information.