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Trump sells condo @ a loss in Miami Beach

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Real Estate Agent with Beachfront Realty 3220434

Setai unit On Miami Beach

 

Setai Units 2306/2308 via Redfin

A trust in the name of Donald Trump's sister, Maryanne Trump Barry, sold a duplex at the Setai for $7 million. The buyer is a company linked to the creators of the Jordache Jeans empire, and owners of the Versace Mansion. They purchased the hotel portion of the Setai last December for $90 million. The duplex sale covers two units - 2308 and 2306 - within the 38-floor luxury hotel and condominium where Lil Wayne owns the penthouse. It has three bedrooms and three bathrooms and had an asking price of $8.5 million. The Trumps paid $7.8 million for the duplex in 2013, leaving them with a loss of nearly $1 million.

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Susan Laxson CRS
Palm Properties - La Quinta, CA
Realtor in San Diego, CA & Naples, FL

The HOA dues are $8,270 per MONTH?  That must be some spectacular services provided! Trump's sister probably doesn't need the extra $1M she lost in the sale. Ah, the life of the privileged!

Dec 29, 2015 08:34 PM
Marco Giancola

Hi Susan, the HOA is for the 2 units that were combined. It is a gorgeous building but you are paying for the insurance and reserves, upkeep and salaries. No one hardly uses the pool or the gym facilities in these buildings.

Dec 29, 2015 09:51 PM
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

In the grand scheme of things, that's chump change to Trump.

Dec 29, 2015 08:34 PM
Donald Urschalitz
Lubeck Realty Group - Jupiter, FL
P.A. Realtor ABR RSPS North Palm Beach County

I feel so sad about that, LOL.

Dec 29, 2015 09:18 PM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Hello again Marco. Trump's sister is a federal court judge in New Jersey. I guess she has money too.

Dec 29, 2015 10:40 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Marco ~ what Roger D. Mucci and Donald Urschalitz said! Like Susan Laxson I'm gob-smacked by the HOA fees.

Dec 29, 2015 10:49 PM
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Maybe that should have been "trump change" instead of "chump change".

Dec 29, 2015 10:58 PM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I guess carrying the loss forward was their Trump Card.

Dec 30, 2015 12:29 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Ah, the life of the super rich 1%.  I'm chuckling at the comment left by Joe Pryor . So funny!

Dec 30, 2015 10:16 AM