Financing is the least of the challenges in building the largest building in North America since the Sears Tower rose in West Loop in 1974, Trump says in a visit Tuesday to launch the opening of the sales center for the 500 condominium units in the 90-story Trump International Hotel and Tower.
"Every major institution wants to be involved in this deal," Trump says. "I think that's the easiest part of the job."
The Trump Organization's cache was recently enhanced with the sale of the General Motors building in Manhattan for $1.4 billion--75% more than Trump says he paid for the building less than four years ago.
Lenders typically are looking for strong pre-sales before committing themselves to financing condominium projects, but Trump shows little concern for meeting requirements. He points to 97 potential prospects inquiring about the condominium units, which range into the $800 per sf range.
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