"Friends and family" deal pays off at Trump

One group of sellers at Trump International Hotel & Tower Chicago are doing OK. According to an article at Crain’s ChicagoRealEstateDaily.com, participants in Trump’s pre-construction “friends and family” buy-up seem to be the only people who are turning profits at resale. Sun-Times publisher-turned-convict David Radler and his family recently sold their two Trump condos for a combined $3,275,000, almost 32 percent above the homes’ 2008 sale prices.

The Donald tried to tear up the discounted contracts back in ’07, citing the condos appreciation throughout the course of construction. The Radlers and other buyers sued, and the two sides settled out of court.

(Visited 110 times, 1 visits today)