The Real Deal New York

Trinity closes on $81M acquisition of Park Slope building

Firm financed purchase of 237 11th Street with $68M loan
By Eddie Small | May 25, 2018 09:58AM

237 11th Street in Park Slope

Trinity Place Holdings has closed on its $81 million purchase of the mixed-use building at 237 11th Street in Park Slope.

The building stands 12 stories tall and contains 105 units, and leasing started in August, according to Trinity. The residential portion of the building is now about 63 percent leased, and the property includes 6,264 square feet of retail as well, part of which is leased to Starbucks.

Trinity purchased the building from Adam America Real Estate, Slate Property Group and Naveh Schuster. Matthew Messinger’s firm financed its acquisition with a $67.8 million loan, although this has not yet appeared in property records. Trinity did not immediately respond to a request for comment about which institution the loan was from.

The company landed almost $190 million in construction financing at the end of 2017 from the Massachusetts Mutual Life Insurance Company for its 90-unit condo at 77 Greenwich Street in the Financial District.