East Coast developer and tee vee star Donald Trump has failed in an attempt to purchase a property on Santa Monica Boulevard, east of Beverly Hills. "The Donald," as he is known on tee vee, lost to Irvine based SunCal Properties, who reportedly paid $110 million for the prime piece of real estate, ABC7 reports.
The developer plans to build luxury high-rise condominiums expected to sell for up to $4 million apiece on the now vacant lot. The lot had been the site of Jimmy's Restaurant, which catered to an upscale clientele until it closed in 2000. More recently, it was home to several of Fox's sports cable channels.
We hope this teaches a lesson to other New York City developers looking to horn in on our turf - we'll have none of that nonsense.
· Donald Trump Outbid by Local Developer [abc7.com]