Normandy, Columbia to buy Tribeca property for roughly $200M

Firms are purchasing 250 Church Street from Norvin Properties

Normandy Real Estate Partners' Finn Wentworth, 250 Church Street, and Columbia Property Trust's Nelson Mills (Credit: Google Maps)
Normandy Real Estate Partners' Finn Wentworth, 250 Church Street, and Columbia Property Trust's Nelson Mills (Credit: Google Maps)

Normandy Real Estate Partners and Columbia Property Trust are teaming up again, this time to purchase 250 Church Street in Tribeca for about $200 million, according to sources familiar with the deal.

The firms are buying the 15-story commercial building from Norvin Properties, which had filed plans in 2017 to convert it into a residential property with 107 units. It was unclear whether Normandy and Columbia would move forward with these plans.

Avison Young brokered the transaction.

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Normandy and Columbia declined to comment on the deal, and representatives for Norvin did not immediately respond to a request for comment.

The two companies have also teamed up at 799 Broadway in Greenwich Village, where they recently finalized a joint venture for a $300 million office development that will stand 12 stories tall and span 182,000 square feet.

Normandy has also teamed up with L&L Holding Company on the massive Terminal Stores project in West Chelsea, which the firms purchased for $880 million in the fall. They plan to spend four years turning it into a $1.8 billion property.