Trump SoHo Settles Fraud Suit By Returning A Big Chunk Of Cash To Buyers

trump soho

Trump Soho, a luxury hotel/apartment complex in downtown Manhattan, has been plagued with problems since day one, as loans ballooned and fancy pads went unsold.

But the hotel, which is managed by Ivanka Trump, has just dealt with one of its ongoing issues by settling a lawsuit brought by 10 condo buyers who claimed the company had “misrepresented” the number of apartments that had already been sold, according to the New York Post.

Under the terms of the deal, the buyers will get back 90% of $3.16 million total deposits they put down on $16.914 million worth of apartments, the Post reported. The units owned by the plaintiffs, including former french soccer star Olivier Dacourt, are now back on the market.

Trump has had a rough time selling apartments in the building, partly because of a rule that limits occupants’ residency of their own apartments to 120 days a year and no more than 120 days at a time, in order to comply with hotel zoning requirements.

As of mid-June, none of the complex’s 11 penthouses, with prices ranging from $2.5 million to $8.7 million, has been sold.

Want to see the David Rockwell-designed luxury apartments look like?

Master bedroom in the duplex

Great views from the bathtub

Floor-to-ceiling windows

Lots of living space

Gorgeous views of the city

Glass everywhere

Custom-designed kitchen

This plane is also emblazoned with the Trump insignia

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