725 Fifth Avenue, 401 North Wabash, 15800 Collins and now the Rambla Lorenzo Batlle Pacheco. Punta del Este will soon join an elite club of global destinations like NYC, Chicago and Miami with a Trump Tower.
Trump Tower Punta del Este was announced yesterday and, as one might expect from a project associated with the legendary Donald J. Trump, the deal is filled with superlatives on both the land acquisition and future development sides.
The 97,000 square foot (9,006 m2) oceanfront parcel where the new Trump Tower will rise was purchased by a group of Argentines from US investor James Shasha for US$19 million, exactly US$10 million more than the amount another group of Argentines paid for the Conrad Resort & Casino plot in 1990.
In terms of the actual development, Trump Tower will set the new standard for high-rise luxury and amenities in Punta del Este. The 24-story, $100-million dollar building will feature 125 residences, 360 degree views of Maldonado, an outdoor pool with waterfalls, two indoor pools, an indoor tennis court, a sculpture garden, two cinemas and a gourmet restaurant with a wine cellar and cigar lounge.
According to El Observador, Trump Tower Punta del Este will commence construction in six months and residences will be priced at approximately US$557 per square foot ($6,000/m2). (Full Story in Spanish)
October 2014 Update: El Observador reports that the 36-month construction project should be complete sometime in 2017. Comienza Construcción de la Trump Tower en Punta del Este
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