Sales Beat

Fisher Brothers Snap Up American Exchange Building and Development Site for $150 Million

Fisher Brothers has paid $150 million for 86 Trinity Place, the former site of the American Stock Exchange, and 22 Thames Street, a neighboring property, according to The Real Deal

86 trinity Fisher Brothers Snap Up American Exchange Building and Development Site for $150 Million

86 Trinity Place (photo courtesy of CoStar)

The property was sold by Michael Steinhardt and Allan Fried, two investors at Steinhardt Management who paid a total of $65 Million for both properties in 2011. The two men had planned to transform 86 Trinity Place into a 174-key hotel  with 100,000 square feet of retail, while also planning to transform 22 Thames Street into a 300,000 square foot residential building, according to reports. 

The family-run Fisher Brothers closed on the deal Sunday, The Real Deal reports.

More on this story as it develops. 

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