It seems that just being Donald Trump is simply not enough. The Earth will keep spinning and banks will continue to do their thing no matter what your name is.
Trump Hollywood is a Trump-licensed project that went bad. The 41 story building has got 200 condos with prices ranging from $900,000 to $7 million. Unfortunately, only 25 units have been sold and the lenders started to become impatient.
So, about two weeks ago, they foreclosed on Trump Hollywood. There was a $225 million mortgage on the tower and no Donald Trump could have done anything about their decision. What will probably happen next is that there will be an auction for the rest of the condos. We know nothing about the 25 owners of the already spoken for apartments, but our guess is that they are not really happy with what has happened.