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 sources below & other charts: Parscale, Rosneft, SCL/Cambridge Analytica.
- 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
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.