Trinity Place CEO reports Jolie near complete, $167M refi, Berkley sale net $8M, insider buying

Trinity Place Holdings Inc.

77 Greenwich (Jolie) construction nearly complete; $166.7M refinancing with no sales/financial covenants for 18 months.
Sold The Berkley in Williamsburg in April for net proceeds of ~$8M after senior debt and partner loan repayment.
237 11th St fully leased; City Council rezoning added ~30K sq ft air rights, potentially increasing asset value.
Evaluating strategic partnerships and potential recapitalization at lower cost of capital, citing NOL and tax loss positions.
CEO bought ~200K shares over past year; largest shareholder MFP reiterated support and bought several hundred thousand shares.

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