Foreigners Invade Soho, and the Stanhope Finally Selling

The Observer's Max Abelson files two luxury development sales reports today, both regarding somewhat troubled projects: Trump Soho and 995 Fifth Avenue (f/k/a The Stanhope). That GMail advertising campaign must be working wonders, because according to Trump Soho sales director Rodrigo Niño, 53% of the units have sold. And here's something not surprising for a condo-hotel where buyers can only live in their suites for 120 days a year: 70% of the buyers are from outside the U.S., and of the 30% of domestic sales, one-third is New Yorkers. The first buyer to be named is Zlatan Ibrahimović, the Swedish soccer star currently playing with Inter Milan, which should keep him out of the hotel for long enough periods of time.

Meanwhile, after a bad run that saw zero sales, the two model apartments unveiled at 995 Fifth Avenue seem to have boosted interest. Now only five of the 26 $10-million-and-up units remain unsold. Three have already closed, but the bulk of the buys will be revealed next month when the co-op opens. The $47.5 million five-bedroom penthouse is still dangling out there, for those who prize short commutes to the Met and, uh, have $47.5 million.
· G-o-o-o-a-l! Inter Milan Soccer Star First Known Buyer in Trump SoHo [Manhattan Transfers]
· At Old Stanhope, Sales—Finally [Manhattan Transfers]

Filed under Manhattan: Soho, Manhattan: Upper East Side, Real Estate Development, Real Estate Sold, 995 Fifth Avenue, The Stanhope, Trump Soho

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