Categories: General
Date: Oct 31, 2014
Title: Trump penthouses will top $20 million
Written by BIV
Posted by Peak Disposal
Each of the three penthouses atop the Trump International Hotel and Tower in downtown Vancouver will be priced from $20 million, estimates Donald Trump Jr., son of New York-based developer Donald Trump.
The younger Trump, who is working with Holborn Holdings and Malaysia-based TA Global Berhad on development of the $360 million, 63-storey hotel and condominium tower, and his sister Ivanka were in Vancouver this week to begin marketing of the “reserve view” selection of Trump tower condominiums.
“Every penthouse will have an ocean view,” said Ivanka Trump, who will open Canada’s first Trump Spa by Ivanka in the hotel when it completes in 2016.
The three-level penthouses come with private glass elevators and climate-controlled wine cellars and range up to 4,700 square feet in size.
Donald Trump Jr. said 65% of the 217 condominiums have already been sold in what will be Vancouver’s second-tallest building. “Most of the buyers are local, right from Vancouver,” he said.
Prices start at $699,000 for approximately 600 square feet, but the majority of the Trump tower condos are listed at close to $1 million.
Joo Kim Tiah, CEO of Holborn Holdings, admitted he was surprised that so many of the Trump condos had sold to local buyers.
“That is not what we had forecast,” he said. The tower is being marketed in Asia, he said, and he suspects the expensive view phase will attract more offshore buyers.
Tiah confirmed that Holborn is also eying the Bay parkade site on West Georgia Street, which Holborn purchased a decade ago, for a possible condominium project. “That is a 100,000 square foot site, so it is a substantial property,” Tiah said.