Triple whammy down in Fort Lauderdale: Back in the boom, developers promised a $200-million high-rise with 298 luxury hotel suites and condo apartments priced from $500,000 to more than $1 million, PER UNIT. And whose name did they invoke to woo investors? None other than The Donald, whose Trump surname is akin to real estate testosterone.
Donald Trump’s Foreclosed Condo Hotel in Fort Lauderdale Leaving Buyers in Legal Hell
Still-unfinished $200 million Trump international Hotel & Tower in Fort Lauderdale embroiled in foreclosure…the lender itself is victim of bank failure…investors concerned Trump branding may be in serious jeopardy…
(Source: Housing Watch)
Plastering the name “Donald Trump” all over fancy collateral marketing materials, they took deposits of 20 percent from folks who were told what a great deal this was because it’s a Trump property with units that they could also lease out as hotel rooms (and rake in the cash). Make that puppy pay for itself.
Read the full article, “Donald Trump’s Foreclosed Condo Hotel in Fort Lauderdale Leaving Buyers in Legal Hell” at Housing Watch (March 22, 2010).