Trump Soho & Drake Hotel Deals

Chart below shows failed deal to purchase the Drake Hotel (left) and the Trump Soho development (right). Trump was part owner of Trump Soho but had no known involvement with Drake deal, other than a March 2009 email written by Brad Zackson suggesting “idea to bring Trump in on the Drake.” Both deals resulted in lawsuits (RICO and fraud) and debt foreclosures and involved iStar and CIM Group, along with people close to Trump. See source links below.

Drake Hotel and Trump Soho chart
Trump Soho & Drake Hotel Deals

Source links

Dec 2010 Bayrock Soho — iStar about to sell $270 Mil in debt on Bayrock Soho to CIM Group

Trump Soho — Bayrock — Sapir — FL Group — fraud lawsuit settled

2008 letter from Felix Sater to Richard Beenstock and Orvar Kaernested at Stodir (FL Group)

Sapir Org & CIM Group — co-owned 11 Madison and sold in 2015 for $2.3 Billion

In 2008 Rotem Rosen, former CEO at Lev Leviev’s Africa Israel (AFI) married Alex Sapir’s sister Zina Sapir at Mar-a-Lago

Alex Sapir and Rotem Rosem travel with Trump to 2013 Miss Universe in Moscow

Kushner bought $340 million stake in Watchtower with CIM Group

Kushner bought $296 million in NYT Building from Lev Leviev’s AFI Group in 2015

Jan 2010 CIM Group purchased Drake for $305 Mil from Macklowe Properties

  • Macklowe originally bought site for $418 Mil
  • Macklowe took out loans of $543 Mil
  • Deutsche Bank filed to foreclose on $482 million in loans in August 2008
  • iStar Financial tried to sell a $224 million first position debt for $160 million, but could not find a buyer in 2009

Drake Hotel — Paul Manafort — Arthur Cohen — Brad Zackson

11/13/14 Tymoshenko et al vs Firtash et al lawsuit

2008 memo written by Rick Gates, Manafort’s business partner and fellow alumnus of Donald Trump’s presidential campaign references finalizing Deripaska’s company Pericles’ participation in the Drake deal.


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