The Real Deal New York

Fisher Bros. buys Downtown site for $88M: sources

Michael Steinhardt and Allan Fried purchased assemblage last year for $65M

September 14, 2012 11:45AM
By Adam Pincus

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From left: Arnold Fisher, 86 Trinity Place and Michael Steinhardt

The family-run real estate investment company Fisher Brothers purchased a site adjacent to the American Stock Exchange building  in Lower Manhattan from two investors who bought the property in 2011, multiple sources said. The sales price was $87.5 million.

Fisher Brothers closed in September on 22 Thames Street, at the corner of Greenwich Street, the sources said.

The sellers, Michael Steinhardt and Allan Fried, purchased the parcel in a two-building deal on Feb. 16, 2011. They paid $17 million for the vacant American Stock Exchange building at 86 Trinity Place,  and $48 million for 22 Thames Street, city property records show.A spokesperson for Fisher Brothers said that there was no information immediately available from the company. Calls to Steinhardt and Fried at Steinhardt Management were not immediately returned.

The sale to Fisher Brothers, whose senior partner is Arnold Fisher, has not yet appeared in public records.

Steinhardt and Fried discussed plans in published reports in June to build a 174-unit hotel with 100,000 square feet of retail at the 15-story stock exchange building. In July they revealed plans to build a 300,000-square-foot residential building at 22 Thames Street at the corner of Greenwich Street.

Fisher Brothers is one of the city’s major office landlords owning such towers as Park Avenue Plaza, and has developed residential properties such as 50 Sutton Place South and Imperial House at 150 East 69th Street in Lenox Hill, both built in the 1950s.

Correction: A previous version of this article incorrectly stated that Fisher Brothers purchased the American Stock Exchange Building, at 86 Trinity Place at the same time it bought 22 Thames Street. In fact, Fisher Brothers never purchased 86 Trinity Place.

  • nytrader81

    The real story. “The board of the Amex misleads the shareholders(seat owners), does not advertise the building for sale, gives a sweet heart deal to Michael Steinhardt, only to be compensated when he sells it a year later for the market price under the table. Look into it and find the truth.”

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