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Trump Organization in buyout deal on struggling NYC tower: report

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The Trump Organization has reached a deal that lets it walk away from a 46-story New York skyscraper with a hotel and condominiums that has had trouble attracting business, the New York Times reported on Wednesday.

The decision to reach a buyout deal on the Trump SoHo property was made by Eric and Donald Trump, Jr., sons of President Donald Trump, along with a small group of senior executives, the newspaper reported, citing company officials.

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The Trump Organization did not respond to a request to comment. Terms of the deal were not disclosed.

The property opened about 11 years ago and was promoted on the reality show “The Apprentice,” which featured Donald Trump.

In 2010, Trump and the promoters of his Trump SoHo hotel-condominiums were sued by buyers who accused them of fraudulently touting out-sized sales figures to inflate the project’s financial health.

He and his co-defendants settled the case in November 2011, agreeing to refund 90 percent of $3.16 million in deposits, while admitting no wrongdoing, the newspaper said.

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Under the exit deal, the Trump Organization will end its contract with the building’s owner, the CIM Group, an investment firm in California that focuses primarily on real estate, the newspaper reported.

CIM did not immediately respond to a request for comment.

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(Reporting by Jon Herskovitz; Editing by Andrew Hay)

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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‘Go look at President Trump’s Twitter’: Portland right-wing rally organizer claims ‘mission success’

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The organizer of a far-right rally in Portland, Oregon claimed the event was a "success" after President Donald Trump attacked Portlandiers protesting the group.

"A confluence of protesters on opposite ends of the ideological spectrum merged on Portland’s waterfront Saturday in a tense but relatively uneventful face-off that brought national attention, including a tweet in the hours before the protest by President Trump decrying the city’s signature anti-fascist movement," the Oregonian reported Saturday.

When a similar right-wing rally in Charlottesville, Virginia killed Heather Heyer, Trump argued there were "fine people" on both sides of the "Unite the Right" rally.

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Why was Jeffrey Epstein buying size 5 women’s panties — while in jail?

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The Miami Herald has another bombshell report on Jeffrey Epstein, who died in a Manhattan jail while waiting to stand trial on federal sex crimes charges.

"A decade ago, during a brief stint in Palm Beach County Jail, convicted sex offender Jeffrey Epstein made an odd purchase at the facility’s store: two pairs of small women’s panties, size 5," the Herald reported Saturday night.

The newspaper noted, "the panties raise questions about why a childless male inmate, accused of sexually abusing girls as young as 14, would be allowed to buy female undergarments so small that they wouldn’t fit an average-sized adult woman."

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White nationalist Republican ridiculed after only 2 people show up for his town hall meeting

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Embattled Rep. Steve King (R-IA) suffered further humiliation on Saturday when only two people showed up for his town hall meeting with Iowa constituents.

King, who was stripped of all committee assignments for his white nationalism, was been an embarrassment for Republicans with his constant racism and misogyny.

A photo of the town hall meeting was posted on Twitter by Reuters photo editor Corinne Perkins.

https://twitter.com/corinne_perkins/status/1162806565109473280

Rep. King was quickly mocked in the comments.

Here's some of what people were saying:

https://twitter.com/sedespres/status/1162811223186006018

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