It's Trump vs. market in condo project

By Alexandra Clough

Palm Beach Post Staff Columnist

Sunday, January 28, 2007

The condo market is tanking, and many projects are being canceled or put on hold nationwide.

Donald Trump's response? Don't worry. Be happy.

The real estate mogul says his brand is so strong that it now has the power to defeat poor market conditions, wherever they may be.

As proof, he pointed to his latest Trump Tower in Hawaii. Despite a slumping real estate market there, that project sold out for a whopping $700 million in just eight hours, setting a world record. Buyers were from around the globe.

Average unit price: $1.5 million.

Those kind of results are music to the ears of Jorge Perez, head of The Related Group of Miami.

Perez has been trying to drum up pre-sales for his latest planned West Palm Beach condo, Icon Palm Beach, on North Flagler Drive. Even though Perez has a loyal following on U.S. and South American projects, the Palm Beach County market is so tough these days that Perez knew he needed something more: Access to the worldwide market.

Enter The Donald to goose Icon's chances of success. Perez said he's counting on Trump's worldwide name to bring international buyers to his high-priced project, now renamed Trump Tower Palm Beach.

Would Perez have gone forward if he didn't have Trump?

"We think the land and the project are fabulous," he said. "But would we have waited one year for the launch until the market got better? We might have."

Perez said he's not concerned that Trump's bold way of speaking will hurt sales. "He's always been a controversial guy who speaks his mind," he said.

Indeed, Trump has made waves nationally for his verbal attacks on comedian and The View host Rosie O'Donnell, whom he's called a "loser" and "fat pig." Closer to home, Trump's also feuding with Palm Beach town officials over an oversized U.S. flag and flagpole at Mar-a-Lago.

In Trump style, he called these events positive. "Fox did a poll that said 91 percent of Americans are in favor of what I said about Rosie," he said. "And everyone is in favor of the American flag."

So will Trump fly the big flag at Trump Tower Palm Beach when it's done?

"I think we should have one," Trump said. "It's a prominent site, and any prominent site should proudly fly the American flag."

Perez may go along with Trump's over-the-top comments and his flag-loving ways. But one thing's for sure: He won't be joining Trump on the small screen.

Perez said he's frequently asked if he and Trump have discussed filming The Apprentice: South Florida, starring the telegenic Perez. The answer is a big fat no.

"I have no desire whatsoever to be on TV," Perez said.