Not too long ago it was reported that South Florida’s Related Group, perhaps best known for the many Miami Beach condos it has spearheaded, was shedding some its assets such as the Trump Towers in Sunny Isles Beach. Less than a month later, a new developer has already stepped in to seize control of the much acclaimed three tower condominium project.
Dezer Properties is actually the co-developer of the Trump Towers alongside the Related Group and is now claiming the ownership that once belonged to Related. Much like Related Group, Dezer Properties is also responsible for major buildings that rival Miami Beach condos and also carry the Trump name, in this case the Trump Grande condo.
On top of assuming the outstanding $265 million dollar loan, Dezer has also slashed prices for units at Trump Towers by more than twenty percent. Trump Towers once had an asking price of $600 to $700 per square foot but you can now purchase one of the remaining unsold units for $350 for a standard residence while penthouses now have a $600 asking price per square foot. If Miami Beach condos aren’t your thing, strongly consider the now much more affordable Trump Towers.