A company formed by Donald Trump with intentions of building a luxury hotel and condo project on the Delaware River waterfront filed for Chapter 11 bankruptcy yesterday as part of a legal strategy aimed at preventing foreclosure. The company, VTE Philadelphia LP, filed for Chapter 11 after a Pennsylvania court granted US Bank, owed $17 million, permission to foreclose on the currently vacant waterfront lot. A sheriff’s sale of the property was scheduled for this morning but the bankruptcy filing prevented the sheriff’s sale. VTE is looking for investors to resuscitate the project. A similar strategy was recently used by the mezzanine lender at 10 Rittenhouse during legal wrangling between the mezzanine lender and Istar Bank.
Trump Tower Philadelphia was designed to be a 45-story skyscraper located at 709-717 North Penn Street in the Northern Liberties neighborhood of Center City Philadelphia on an existing peninsula extending 700 feet (210 m) into the Delaware River. The developers, a partnership between Donald J. Trump and Multi Capital Group, planned on completing the project, designed by William Alesker (Alesker & Dundon), in 2009 but were unable to proceed when the real estate market collapsed in Philadelphia and nationally. (Wikipedia)
Click here for more information on the Trump Tower Philadelphia project.
Blog post compliments of the CenterCityTeam Philadelphia Real Estate Blog
Click Here To Search For Philadelphia Real Estate
Click Here To Search For Philadelphia Condos
Click Here For A 100% Free Search Of All Philadelphia Real Estate Listings
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
[email protected]
Frank L. DeFazio, Esq.
Prudential Fox & Roach, Realtors
Real Estate Search
Just Listed!
$2,400 -
272 S 23rd St #C
Philadelphia
$144,900 -
2101-17 Chestnut St #302
Philadelphia
$199,900 -
2101 Chestnut St #619
Philadelphia
$1,595,000 -
1800 Delancey St
Philadelphia
$1,750 -
1806-18 Rittenhouse Sq #1106
Philadelphia
$2,500 -
312 S Chadwick St #1r
Philadelphia
$365,000 -
2047 Spruce St #4
Philadelphia
$225,000 -
1626 Spruce St #4
Philadelphia
$799,000 -
1708 Delancey St
Philadelphia
$1,850 -
2101 Chestnut St #1515
Philadelphia
$4,500 -
2101 Market St #502
Philadelphia
$499,000 -
1901 Walnut St #13c
Philadelphia
$359,000 -
219-29 S 18th St #1222
Philadelphia
$1,300 -
2135 Walnut St #302
Philadelphia
$1,710 -
230-38 N 21st St #1001
Philadelphia
$2,695 -
2101 Market St #3808
Philadelphia
$1,895 -
1811-19 Chestnut St #803
Philadelphia
$1,395 -
1701-15 Locust St #1517
Philadelphia
$1,995 -
1930-34 Chestnut St #20e
Philadelphia
$1,575 -
1700 Walnut St #4g
Philadelphia
$1,595 -
1700 Walnut St #6g
Philadelphia
$549,000 -
220 W Rittenhouse Sq #5e
Philadelphia
$2,200 -
2206 Manning St
Philadelphia
$3,200 -
1714 Spruce St #5
Philadelphia
$359,000 -
2200 Arch St #405
Philadelphia
Blogroll
Search the Site
Enter your search criteria below
The data relating to real estate for sale on this website appears in part through the TREND Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Prudential Fox and Roach, Realtors participates, and is provided by TREND through a licensing agreement.
The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale.
Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.
Real estate listings held by brokerage firms other than
Information Deemed Reliable But Not Guaranteed
Data from the Zillow, Google Map, and Walk Score modules, is not provided by TREND, and should be considered informative, but not accurate.
© 2013 TREND, All Rights Reserved
Data last updated: 5/20/13 10:10 PM PDT.
This IDX solution is (c) Diverse Solutions 2013.
[...] Well, if you are Donald Trump, you just keep filing bankruptcy. Actually, The Donald never files, just his companies. His casinos have filed multiple times. [...]