It's no secret that residential properties in NYC hotels have been struggling as of late. After all, the penthouse apartment at the Pierre just slashed its price to a "meager" $63 million -- down from the original ask of $125 million. And the same seems to be the way of the condos at the Trump SoHo. Reports state that only one-third of the units have been sold, so there have been talks that all condos will be converted into hotel rooms -- which isn't much of a stretch. As it is, current owners are only allowed to occupy their units for 120 days annually; the remainder of the year, the condos are rented out as hotel rooms, with owners getting a share of the profits.
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