Donald Trump is no longer affiliated with the unfinished luxury condo hotel tower on Fort Lauderdale beach that was to carry his name and that now faces foreclosure. The building was to be called the Trump International Hotel and Tower. This luxury condo hotel was going to be one of Fort Lauderdale’s most glamorous locations, but today is in the midst of one of Ft. Lauderdale’s stormiest legal battles. The legal battles include a foreclosure filed by the lender, many prospective purchasers trying to get their deposits back.
Our firm has a proven track record in the area of deposit recovery. While we are currently aggressively representing the interests of many purchasers at the St. Regis Bal Harbour, ICON Brickll, the IVY, and other prominent South Florida projects, recover their pre-construction deposits, we previously spearheaded many of the defenses that the developers are currently using against purchasers.
Yeas ago, more than 100 people placed deposits of 20% of the purchase price in order to buy condos in the 24 story tower with the hopes of purchasing what was supposed to be one of Ft. Lauderdale’s most glamorous new properties. Studios and one and two-bedroom units were priced from about $500,000 to more than $3 million per unit.
The building, however, was never finished. Consequently, many buyers have filed suit in an effort to get their deposits back and some have even placed liens on the 298 unit project that was supposed to be finished back in 2009.
Many buyers alleged that the developer misrepresented Donald Trump’s involvement in the project. Some suits even named Donald Trump personally and allege that Donald Trump and the developer both engaged deceptive advertising practices.
In support of that argument, the buyers point to promotional literature that states that Donald Trump was “committed to personal and direct involvement in everything his name represents” and described the project as a “signature Trump development.”
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If you are a contract purchaser in a development that has not been completed, or you are seeking the return of your deposit, then please contact our office today.
Call us toll free at 1-866-518-2913 or at 305-263-7700.