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