That Luxe Trump SoHo Condo You Have Your Eye On? It's Probably Going to be a Luxe Hotel Room Very Soon...
One-Bedroom Suite at the Trump SoHo
It's no secret that residential properties in NYC hotels have been struggling as of late. After all, the penthouse apartment at the Pierre just slashed its price to a "meager" $63 million -- down from the original ask of $125 million. And the same seems to be the way of the condos at the Trump SoHo. Reports state that only one-third of the units have been sold, so there have been talks that all condos will be converted into hotel rooms -- which isn't much of a stretch. As it is, current owners are only allowed to occupy their units for 120 days annually; the remainder of the year, the condos are rented out as hotel rooms, with owners getting a share of the profits.
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