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Unhappy Trump Soho Buyers Will Get 90 Percent Refunds

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By: Sara Polsky

November 3rd, 2011

The developers of the Trump Soho were so worried about disgruntled buyers joining a lawsuit against the condo-hotel that they preemptively offered 50 percent refunds to any buyers who agreed not to sue. But some decided they could get a better deal going the legal route—with a suit based on those inflated sales numbers—and that’s just what they did!

The buyers involved in the lawsuit will get back 90 percent of their deposits, the Post reports, a total of $3.16 million on 10 condos. (Those condos’ total asking prices: $16.914 million.) So just how many units in the building have sold? We still don’t know! But Ivanka Trump insists the building is a blockbuster. In fact, she tells the Post, “Business is so strong that we’re delighted to get the units back.” So everybody’s thrilled!

Adam Leitman Bailey, P.C.

NEW YORK REAL ESTATE ATTORNEYS