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

Daniel Edward Rosen — Mon, 17 Sep 2012 12:31:55 -0400

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 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.

The Commercial Observer » Fisher Brothers Snap Up American Exchange Building and Development Site for $150 Million

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