HPNY arranges $15 million sale of 50 Trinity Place

HPNY has completed the sale of 50 Trinity Place in the Financial District for $15 million. Trinity Place is a 3,800 s/f vacant lot at the corner of Rector St. with development plans for a 197-room hotel. The buyers were a west coast group of investors looking to capitalize on land deals around the 9/11 Memorial vicinity. In recent months there has been a mini-boom due to travelers coming to the area. The deal was arranged an off market transaction through Ivan Hakimian's firm HPNY.