Trump Hollywood Luxury Condos Goes to Foreclosure-Condo Prices Expected to Adjust

As reported by Bloomberg this morning, the magnificent Trump Hollywood has gone to foreclosure. The note was bought by a third party.

It is anticipated that prices are going to be cut.  This property is has 41 stories of contemporary glass designed by Yabu Pushelberg and Robert Swedroe, Residences are large and the finishings are top of the line. Trump Hollywood has a total of 200 units.  The finishings and the amenities are truly outstanding.

There are many buyers waiting for this day.  Hollywood is a location along the beach that offers new condominiums with the best prices on a dollar per square foot basis compared to other areas along the coast. The project is most desirable for its luxury finishings and spacious floor plans. Trump Hollywood was completed as the market fell and the prices offered did not adjust with the market. Many buyers expressed a desire and interest but decided to wait anticipating this day to come.

There is a demand from a specific set of buyers for a luxury  minimum 3 bedroom  direct oceanfront condominiums with at least 3000 sq.ft. in South Florida.  The few properties that offer such large spaces in a luxury building such as Turnberry Ocean Colony in Sunny Isles command prices starting at $2.5 million. Trump Hollywood was offering these units for sale for around $600 square foot or $1.8 million and they did not sell in this market.  Anticipating a price reduction to come,  Trump Hollywood can become the best buy for luxury oceanfront condominiums along the coast.

Floor plans offered start at the smallest unit a 2 bedroom plus den 3 and 1/2 bath with a total of 2088 square feet under air.  The largest floor plan is 5086 sq. ft. under air 4 bedrooms 6 1/2 baths plus a den, family room,home office and staff quarters.  The oceanfront balcony adds another 920 square feet.  Truly spectacular.

If you are interested in floor plans or further information contact me at susan@blogsouthflorida.com. Call (954) 632-3266

One of the outstanding amenities offered at Trump Hollywood.  Residents wine room.

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