X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-The Associated Builders and Owners of Greater New York’s 27th annual BuildingsNY trade show kicked off yesterday at the Jacob K. Javits Convention Center with keynote speakers Donald Trump Jr. and Ivanka Trump, who provided attendees with a view of the city’s real estate market, their company’s international endeavors and new real estate trends.

More than 15,000 industry members jam-pack the center each year for the two-day event held this year on June 27 and 28, where exhibitors provide information on innovative products and cost effective services, as well as the latest news in management, security, renovation, and restoration and retrofit services.

First on the Trump’s agenda was to update attendees on the Trump SoHo hotel condo project, a partnership with Bayrock Group and Tamir Sapir located on 246 Spring St., which was intended to close this past week and is only waiting on one document. “The project had foundation permits three weeks ago, and closing should happen any day now,” Trump Jr. said.

The projected 411-room, 45-story, luxury condo-hotel, is intended to be the tallest structure in SoHo, with amenities including an outdoor pool, a screening room, restaurant and cocktail lounge, members’ library and event space and should reach a selling price of $3,000 per sf according to Trump Jr.

“We are looking to grow our condo-hotel brand and are opening nine hotels in the next few years,” he noted. “The New York real estate market is incredible and will always do well, but we are also looking into other ideal locations.”

Trump Jr. explained that they will have some big announcements in the next few weeks. He briefly mentioned an upcoming six-mile, oceanfront, horizontal project they have in the works, but would not give specifics as of yet, but he did say that the company was expanding into many other markets, one of which includes the recent joint venture resort in Mexico, just south of the US border, that he was heading to following his speech.

Although Trump Jr. mentioned that if you can build in New York, you can build anywhere, “it is easier to build internationally,” he added, when referring to their project in Dubai, which is launching sales this fall. “In New York, somebody’s going to fight you over building a half a story building.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.