Solid Report for Trump Project in Panama
The Trump Ocean Club, the bellwether project under construction on the bay in Panama City, is still hitting its financial and construction targets, the developers told bondholders last week. Newland International Properties sold 23 units in the first half of the year, bringing the total sold to 832 of the 1,004 condominium and hotel units, according to the report, which can be found on the Panama Investor Blog.
While there have been accounts of steep discounts and stagnant sales in other Panama City towers, the Trump project is discounting units an average of only about 13 percent, Newland told investors. The average price for a two-bedroom unit is about $683,000 or $4,452 per square meter.
Like many projects that carry the Trump name, Newland is simply licensing The Donald’s brand. Widely believed to be the most expensive of the many new towers sprouting in Panama City, the Trump Ocean Club’s progress has been closely watched, amid concern the Panama City market is over heated.
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Inside the Trump Tower in NYC
Luxist offers a glimpse at what $14.9 million buys in the Trump Tower on Fifth Ave. in New York City. The 48th floor duplex with 4 bedrooms and 4.5 baths offers floor-to-ceiling windows with panoramic views of the city. And the master bedroom is “designed so that the bed is positioned perfectly so that Central Park views are the first thing you see in the morning for a very master-of-all-you-survey feeling.” So it has that going for it. Read more