Cape Advisors Acquires Tribeca Building for $35M


Real estate development and investment firm Cape Advisors has acquired 149-151 Church Street in Tribeca for $35 million, according to property records filed with the city.

The mixed-use property, also known as 102 Chambers Street, features 26,150 square feet of residential space and 6,650 square feet of commercial space, according to PropertyShark. A two-bedroom apartment in the building was last listed in September 2013, asking $4,695 per month.

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149-151 Church Street. (PropertyShark)
149-151 Church Street. (PropertyShark)

The buyer boasts a portfolio of properties concentrated in New York City, Long Island and the New Jersey shore. Cape Resorts, a subsidiary of Cape Advisors, owns and manages a number of hotel, resort and hospitality projects in the Hamptons, eastern Long Island and New Jersey.

Cape Advisors’ residential portfolio includes the Watchcase Factory development at 15 Church Street in Sag Harbor, N.Y. The property was acquired by Cape Advisors in 2006 and is currently being redeveloped into a residential building with 64 condominium units and townhouse buildings. Construction is expected to be completed this year.

The buyer could not immediately be reached for comment.