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Trump Tower fail: the perceived value of a luxury suite in the building is now below $600,000

(Image: Gage Skidmore)

Schadenfreude-prone locals gleeful over the Trump Tower’s persistent problems got yet more fodder over recently. The owner of a 950-square-foot unit in the not-so-minimalist tower put it up for auction after noticing that 11 other Trump units have been languishing on MLS for months. The condo received a single bid of $550,000—well below the seller’s already-discounted reserve price, and a mere fraction of the $1.6 million that developer Talon International is asking for a similar suite. Ritchies Auctioneers told the Toronto Star that several potential buyers missed the sale after Trump executives balked at holding it on-site, forcing a last-minute venue change. Of course, we’re sure an investor mutiny, falling glass and general dislike of the building’s over-coiffed namesake had nothing to do with the no-shows. [Toronto Star]

  • KCMOfan

    Bloviating ignoramus.

  • Geoffrey Grace

    It’s amazing how oblivious some of the sellers are. I spoke with a Doctor in England, who owns a hotel suite, and wanted $1m for it even though it lost money every month… Just out to lunch!

  • Johnny Mac

    There is no difference between condos and apartments-apartments you pay rent and you enjoy hydro and amintenance while in condo yo pay maintenance fee and you do not enjoy hydro neither is yours because you dance to the tune of the L/L whether is Trump’s condo or Tridal apartments so guys don’t full yourself.Please go for detach or semidetach where you are master of your own unless Govt change the rules that will correct the maintenace fee.

 

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