It was only a matter of time before the future of the towering, 65-storey Trump Hotel and Tower was seriously called into question. Last year, it seemed the building was doomed, and now in the aftermath of the U.S. election, it's officially on the market.
CBRE Ltd. is the firm in charge of marketing the sale of the building, and they've stated Trump's name may or may not stay on the building after it's sold.
The Financial District building is wrapped up in multiple financial situations including with JCF Capital who holds the debt on the current building and developer Talon International Inc. who defaulted on the original debt as well as with investor Jay Wolf who is involved in a $301 million construction loan on the property.
There's actually nothing overly dramatic about the sale. The Trump organization only licenses its name and manages the building, so the man himself has very little to do with any of it.
What exactly is for sale? The five-star hotel, along with 211 unsold hotel units and 74 unsold condos. The sale of the tower would also include several parking spots, a spa, and the Calvin Bar at street level. Word is that numerous foreign investors are already interested.
Photo by @lusin14 via Instagram.
by Phil Villeneuve via blogTO