Brooke Shields Goes From 'Pretty Baby' To Gorgeous Woman
Trump Hollywood Project Foreclosed
Filed under: Real Estate Developments
It's time for me to eat my words. Back in March I referred to the Trump Hollywood project in Hollywood, Florida as the "only Trump project thriving in South Florida." I was wrong on two counts: the first being that it was yet another Trump-licensed project rather than a direct Donald Trump build and the second, on the building's overall health. Bloomberg reports this week that lenders foreclosed on Trump Hollywood ending a protracted restructuring battle by developer Jorge Perez's Related Group of Florida.The project opened in 2009 and the 41-story tower includes 200 condos at current prices from $900,000 to $7 million. The $225 million mortgage on the project was part of $2 billion in troubled loans at Related Group as of early last year.
According to the Bloomberg article, sales have closed on just 25 units. Given what we've seen on other similar projects, I'm predicting we'll see a condo auction to raise interest and quick cash on units not already spoken for by buyers. Trump is facing lawsuits on other licensed projects including his failed Baja Mexico project and the Fort Lauderdale project that until recently bore his name, it's not clear if Trump Hollywood has any disgruntled buyers yet.
PHOTOS: Most And Least Christian States In America
Rodents Run Amok at Upstate New York Walmart
Naked Face Eater's Victim ID'd; Attack Lasted 18 Minutes
Apple CEO Tim Cook interview at D10: the liveblog
Beyonce 60-Pound Weight Loss: Queen B Flaunts New Figure During Comeback Concert Series
SLIDESHOW: Tattoos That Go Way Beyond Your Average Tramp Stamp
What's a Realistic Retirement Age?
I'm A Successful Entrepreneur But Might Get Deported
America's 10 Best National Parks
Carrie Underwood's Grunge Rock Past: 'I Was All About Pearl Jam'
What Happened When Alex Kenjeev Paid His Student Loan in Cash
VIDEO, PHOTOS: Man Who Chewed Off Victim's Face ID'd
Farmers Hit the Jackpot in Kansas Oil Boom
Can a New Guy Save Best Buy?
'I Am Now Who I Was Supposed To Be'
Supposed new iPhone casings show up with tall body, tiny dock connector, tons of mystery (update: a bit of the front too)
Boy Buys Old Polaroid Camera, Finds Picture Of Uncle
Wynonna Judd's 33 Wildest Stage Costumes
NSFW PHOTOS: A Little Too Much Of A Rear View
Eight-Year-Old Upset After Teacher Gave Her The Biggest 'Catastrophe' Award
'Polish Death Camp' Remark Lands Obama In Hot Water
Cops Probe Possible Connection Between Two Missing College Students
'Cannibal' Attack: Naked Man Shot Dead In Miami 'As He Chewed Victim's Face' (VIDEO, PICTURES)
PHOTOS: Nicole Scherzinger Almost Reveals Too Much
Does Tebow Have A Secret Girlfriend?
'Private Practice' Cast Shake Up
Donald Trump Can't Be Controlled, Causes Major Headache For Mitt Romney
Walmart Workers Call Cops On Veterans On Memorial Day
Katie Couric Reveals Dream Guests
Ancient Roman Shipwrecks Discovered
Pat Gallagher: Late Bloomers: Hollywood Stars Who Made It Big After Age 50
Travel + Leisure: PHOTOS: America's Worst-Dressed People