The Trump Soho hotel and condominium is scheduled to open April 9.
The 42-story, 391-unit property, at 246 Spring St., broke ground in 2007 and was originally scheduled to open in fall 2009. But its completion was delayed after a crane collapse in 2008 that left a worker dead and caused a stop-work order.
According to The Real Deal, the building had sale prices of up to $2.5 million for an 845-square-foot unit when units were marketed in 2007. The project is a joint development of the Bayrock Group and the Sapir Organization, with the Trump Organization heading marketing and operations.
Trump won a legal fight against the Soho Alliance community organization, which charged that the building would be a residential “Trojan horse.”
Sean Sweeney, the alliance’s director, said, “Trump tried to sneak in nonconforming residential condos disguised as a permitted hotel. When community activists forced a restriction of 120 days residency per year, the nails were hammered into the coffin. Who would pay $3,000 a square foot for a place they could reside in only four months a year? The hotel is almost two years behind schedule after the sales of overpriced units and the financing all but evaporated. Reports claim the project is nearly bankrupt. Soho to Trump: You’re fired!”
