A Lender Is Foreclosing On The Swank NYC Hotel Donald Trump Unveiled On 'The Apprentice'
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screenshot via Bloomberg.
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The lender in Trump Soho, the hotel Trump unveiled on his show The Apprentice, has decided to foreclose on the property, according to the Wall Street Journal.
Real-estate investor CIM Group, which holds a junior loan on the property, is taking control of the building through a foreclosure process and his hired brokerage Eastdil Secured to auction off the property.
The hotel opened in 2010 and quickly became a hotspot for upscale bottle service. But as with many NYC nightlife destinations, its popularity has waned.
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Trump has a licensing deal with the property, not an equity stake.
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