Trinity Place Holdings Achieves Construction Milestone on New Lower Manhattan Tower at 77 Greenwich Street
September 17 2018 - 8:22AM
Business Wire
Trinity Place Holdings Inc. (NYSE: TPHS) announced today that
the New York-based real estate holding, investment and asset
management company has completed the foundation work for its new
mixed-use development in Lower Manhattan, clearing the way for the
500-foot tower’s vertical rise. Located at 77 Greenwich Street, the
development will include 90 luxury condominium residences, prime
retail space and a new public elementary school. Installation of
superstructure concrete at 77 Greenwich will begin in October 2018,
and the project remains on track for completion in late 2020.
“We’re thrilled to see this elegant and dynamic modern structure
at 77 Greenwich Street begin its ascent on New York City’s iconic
skyline,” said Matt Messinger, CEO of Trinity Place Holdings.
“Today marks a critical construction milestone as we have
successfully completed foundation work and move efforts to the
vertical rise of the building. The team at Trinity Place Holdings
and our construction team have done a tremendous job advancing this
project since breaking ground in the fall of 2017. We are currently
on budget and on schedule, with marketing and sale of units
expected to begin during the Spring of 2019. We look forward to the
rapid visual progress expected during the coming months.”
Situated in the epicenter of Manhattan’s New Downtown—with easy
access to Battery Park and Battery Park City, the Hudson River
Waterfront, One World Trade Center, major transit hubs and all of
the exciting retail and dining in evolving Lower Manhattan—77
Greenwich will be a 500’ tall reflective glass high rise with
panoramic New York Harbor and river views.
Designed by an unrivaled team of New York-based collaborators,
including architecture by FXCollaborative and interiors by Deborah
Berke Partners, 77 Greenwich will consist of 90 light-filled
residential condominiums ranging from 1-4 bedrooms with elegantly
crafted finishes and spectacular water views from every home. A
full suite of amenities has been designed by Deborah Berke
Partners, complementing an offering that will bring luxury,
lifestyle, comfort and wellness to an area of Downtown Manhattan
rapidly escalating in popularity and population growth. Sales of
the residences are expected to begin in Spring 2019.
For more information, please
visit www.trinityplaceholdings.com.
ABOUT TRINITY PLACE HOLDINGS INC.
Trinity Place Holdings Inc. (the “Company”) is a real estate
holding, investment and asset management company. The Company’s
business is primarily to own, invest in, manage, develop and/or
redevelop real estate assets and/or real estate related securities.
The Company is developing a mixed-use condominium at 77 Greenwich
Street in Lower Manhattan, which is one of Lower Manhattan’s
premier development sites. As of June 30, 2018, the Company also
owns a shopping center located in West Palm Beach, Florida, a
retail property in Paramus, New Jersey, a multi-family property
located in Park Slope, Brooklyn, as well as a 50% interest in The
Berkley, a Williamsburg, Brooklyn, multi-family property. Trinity
Place Holdings’ intellectual property includes rights related to
the Filene's Basement trademarks. In addition, the Company also has
over $234.0 million of Federal tax net operating losses. Several of
its current assets are the legacy of certain Syms Corp. and
Filene’s Basement holdings as a result of those companies having
emerged from Chapter 11 bankruptcy under a plan of reorganization
in September 2012.
More information on the Company can be found at
www.trinityplaceholdings.com and on our residential properties at
http://theberkleybk.com/ as well as www.237eleventh.com
Forward Looking Statements
This press release includes forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on current
expectations and projections about future events and are not
guarantees of future performance or results and involve risks and
uncertainties that cannot be predicted or quantified, and,
consequently, the actual performance of the Company may differ
materially from those expressed or implied by such forward-looking
statements. For a more complete description of these and other
possible risks and uncertainties, please refer to our Annual Report
on Form 10-K for the year ended December 31, 2017, as well as to
our subsequent filings with the Securities and Exchange Commission.
The forward-looking statements contained herein speak only as of
the date hereof, and we assume no obligation to update any
forward-looking statements, whether as a result of new information,
subsequent events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20180917005349/en/
M18 Public RelationsGina FaridniyaGina@m18pr.comorAllison
WalkerAWalker@m18pr.comorLytham Partners Investor
RelationsRobert Blum, 602-889-9700blum@lythampartners.com
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