Birfer Trump Bankrupts Another Building

[Toro]

Instead of offering Obama $50 million, perhaps Birfer Trump should use his money to stop his properties from going bankrupt. That's two which have filed since he offered Obama $50,000,000.

A lender to Trump SoHo, the upscale Manhattan hotel and condominium that Donald Trump unveiled on his television show "The Apprentice," is foreclosing on the property and putting it up for sale, said people familiar with the matter.

Real-estate investor CIM Group, which holds a junior loan on the property, is taking control of the building through a foreclosure process and has hired brokerage Eastdil Secured to auction off the property.

http://online.wsj.com/articles/trump-soho-hotel-lender-plans-to-put-property-up-for-sale-1410885344

This is exactly what happened in Vegas with the Trump. It's a fricken' condo-tel, of course it isn't selling, just like the Cosmo and the now Hilton Grand Vacation Club at Planet Hollywood. After years on the market, both still have unsold units.

Trump is an exceptionally smart businessman. He takes a position in the middle and plays both sides to his advantage. He and his family DO have financial interest! Read the following, then pay attention to the last paragraph.

http://online.wsj.com/articles/SB10001424052748704652104575494212838575430

Most "Trump" buildings these days are actually licensing agreements by developers to use his name. They pay them for the use of the title and a percentage of revenues, and Trump Corp receives a minority equity stake.