Donald Trump No Longer Involved With Ft Lauderdale Condo

Donald J. Trump said he's no longer affiliated with the unfinished luxury condo-hotel tower on Fort Lauderdale beach that was to be called "Trump International Hotel & Tower". Trump had a licensing deal that was terminated. The building now faces foreclosure.

Over 100 people plunked down 20 percent deposits to buy condos in the luxury Trump tower, units priced from about $500,000 to more than $3 million each. Most of those buyers are suing, trying to get their deposits back or place liens on the unfinished building. Many charge that developers misrepresented Trump's involvement and their lawyers claim promotional materials suggested Trump was a partner, not only licensing his name.

Trump Hollywood Foreclosure Final

Lenders foreclosed last week on the 200-unit luxury condominium project "Trump Hollywood," a 41-story beachside tower in Hollywood, north of Miami Beach.

The foreclosure ends a lengthy debt restructuring by developer Jorge Perez and Related Group of Florida. Related Group, founded in 1979 by Perez and New York developer Stephen Ross, will continue to manage and market condos. Sales have closed on 25 of the 200 units, which were listed at prices ranging from $900,000 to $7 million

The luxury condo project offered condominiums with prices ranging from 1 million to 7 million dollars. Units could be purchased with an initial downpayment of 20 percent of a given property's value and a mortgage on the remainder, but with the recession and sharp fall in property values, only 25 of the units were sold.

Donald Trump Sues Tampa Developers

Donald Trump has filed suit against current and former principals of SimDag/Robel LLC: Frank Dagostino, Robert Lyons, Patrick Sheppard and Jody Simon. According to the suit, they men missed payments of $13,448 apiece as part of a legal settlement over a busted licensing deal.

Trump licensed his name to the proposed 52-story luxury skyscraper in exchange for 50% of the profits. Trump Tower was never built and SimDag lost the riverfront lot to foreclosure in July.

Trump was sued last month by 25 former condo buyers who accuse him of fraudulently claiming he was the developer of the tower.

Judge OKs Trump Tower Tampa Foreclsoure

A Tampa bankruptcy judge has ruled that Colonial Bank can proceed with its foreclosure against the riverfront project in Tampa. Trump Tower was going to be the areas tallest skyscraper with million dollar plus condos, but couldn't get fianancing. The bank is owed $3.5-million by developer SimDag LLC, who filed for bankruptcy in 2008, halting the foreclosure action. The 1.5-acre property, which SimDag said is worth at least $15-million, could be seized or auctioned by the bank as part of the foreclosure.

Trump Tower Developer Files Chapter 11

On Tuesday, SimDag filed for Chapter 11 bankruptcy protection in Tampa. 3 years ago York tycoon kicked off sales for his namesake, a 52-story luxury condominium tower at 111 S Ashley Drive in Tampa.SimDag would build the 190 units by licensing Trump's name. But as SimDag failed to get a $200-million loan, the condo market took a nosedive. Buyers of units began dropping out. Last year Trump sued SimDag for unpaid licensing fees.

The bankruptcy filing lists $10- to $50-million in liabilities, many to condo buyers who gave SimDag deposits ranging up to $1.6-million. SimDag estimated its number of creditors exceeded 200. A more detailed list of creditors, including Trump, banks, and contractors, will be realeased shortly.

Trump Royale Celebrates Topping Off

SUNNY ISLES BEACH, FL (July 27, 2007) — A little more than a year and a half ago, Sunny Isles visionaries Michael and Gil Dezer employed a crew of 600 construction workers to pour the foundation for the Trump Royale, a 55-story $350 million oceanfront condominium located at 18201 Collins Avenue in Sunny Isles Beach. Dubbed a “Kong-crete Pour” because of its mammoth size, it was the largest concrete pour in the South Eastern United States. On Friday July 27, 2007, this landmark building celebrated yet another milestone – its “Topping Off!”

Trump Royale is part of the $750 million Trump Grande Ocean Resort and Residences, an 11-acre enclave that includes the 278-unit Trump Palace which opened in 2006, and a 372-unit condo hotel - Trump International Sonesta Beach Resort. The Trump Royale is being developed by Trump Dezer Development, whose principals include New York real estate mogul Donald J.Trump, and the father-son team of Michael and Gil Dezer, who were the first in Florida to partner with the real estate mogul nearly five years ago. Residences are priced from the $900’s to over $11 million. Construction is slated for completion in June 2008.

Trump Tower Palm Beach Annunced

Donald Trump is teaming with The Related Group to build Trump Tower Palm Beach, a luxury condo on North Flagler Drive in West Palm Beach.

Trump Tower Palm Beach, known as Icon Palm Beach prior to him signing on, is Trump's first new condo project in Palm Beach County since he bought Trump Plaza 1986. Trump said he has been looking to do something in the area for some time and began talking to Jorge Perez of The Related Group last year. Between Trump International Golf Club in West Palm Beach and his Mar-a-Lago private club on the island, "I have a big stake in Palm Beach," he said.

Perez and Trump built Trump Towers in Sunny Isles Beach, a triple-tower project in northern Miami-Dade County, and Trump Hollywood, a 40-story condo that will start construction in three months.

The 23-story condo will consist of 150 units priced from $900,000 to more than $2 million and will feature water views and a rooftop putting green reportedly modeled after a hole at the Trump International Golf Club.

About 50 buyers have "preliminary reservations," while sales officially begin on Friday, when Trump and daughter Ivanka formally announce the joint venture at the project's sales center. The project is scheduled for completion in 2009.