Trinity Place sells 50% JV interest in The Berkley for $71.02M to TF Cornerstone

Trinity Place Holdings Inc.

Sale price of $71.02M for the Williamsburg, Brooklyn multifamily property.
Net proceeds after mortgage and swap settlement will fund working capital or new investments.
Property maintained 99% occupancy over past 12 months; net effective rent growth ~20% on new leases.
At 77 Greenwich, Jolie construction hoist removed; TCO for A-line units and Cloud Club 77 expected summer 2022.

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