Crib Chatter

 

Thanks to the tipster who pointed me towards the real estate investment firm  Exclusive Equity Partners LLC, which is promoting Trump Tower Chicago units on its website at “below developer’s prices.”  Exclusive Equity Partners appears to be a real estate investment company.  From their website:

EEP Exclusive Equity Partners, LLC is a leading real estate wholesale buying group that focuses on turn key investment opportunities negotiating the best investor programs for its clients. EEP negotiates early on a project directly with developer to precipitate the best possible investment scenario. EEP chooses only high end pre construction and new construction projects with optimal ROI. Letters of Intent are signed to purchase in bulk quantity and lock in the lowest pricing.

Typically EEP locks in a block of 20 select units in any one project and offer these to their investors at pre-marketing pricing. In addition we negotiate lucrative finance scenarios and guaranteed rent programs. Hassle Free management is offered as well for virtually an effortless arm chair investment.

The buildings on their website in Chicago include Trump Tower, 10 E. Ontario Place, and 30 E. Huron.

For Trump Tower, they claim they have an “exclusive private offering” that’s a “whisper campaign that very few people know about.”

Shhh. . .

Featured Unit: Condo/Hotel #1934: 684 square feet

• Exclusive’s Price: $775,000
• Trump’s (alleged) Price: $982,000
• “Close by the end of December 2007 and receive the $45,000 furnishings package FREE”

They are also selling two of the regular condo units.

Unit #76A: 3 bedrooms, 3.5 baths, 3080 square feet for $2,745,000

Unit #76F: 2 bedrooms, 2.5 baths,  1952 square feet for $1,850,000

It’s interesting that they’re marketing the condo/hotel at “below developer’s price” because it’s likely they bought it for $500,000 or so at pre-construction prices.

But what will re-sales like this, which are supposedly below what Trump is trying to sell the other units for, do to the prices of those others units? 

Yep.

Prices are going to come down on the condo/hotel units as investors try and dump them.