Developers Slash Trump SoHo Sales Price

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    NEWSLETTERS

    Trump Soho

    A flashy Manhattan condominium development is taking drastic steps to boost sluggish sales.

    The 46-story Trump SoHo is offering a 25 percent discount to buyers who have signed contracts but haven't closed on their properties.

    That's according to the Wall Street Journal, which reviewed documents connected to the deal.

    A spokesman for Trump SoHo said the discounts were not automatic and were being negotiated on a case by case basis.

    About a quarter of the 391 condo units in the building are under contract, but just 23 percent of those have closed.

    The building has proven to be a tough sell. Owners of the units are allowed to stay in them just 120 days a year. They're part of a hotel operation the rest of the year.