Trinity Place Holdings Inc.
tphs.comTrinity Place Holdings Inc (TPHS) is a real estate company that holds and manages property assets primarily through its investment in TPHGreenwich, a joint venture entity. Revenue is generated through the ownership and disposition of real estate assets, including residential condominium units for sale and rental properties. The company's most significant asset as of the 10-K filed March 24, 2025 is 77 Greenwich, a mixed-use development located in downtown Manhattan, New York. TPHGreenwich competes for tenants, contractors, and lenders against other residential and commercial property owners in the Brooklyn and lower Manhattan markets. The company carries accumulated deficit on its balance sheet and has relied on external financing, including loans from Macquarie PF Inc. under a Master Loan Agreement. In February 2025, Steel Partners completed an acquisition closing that resulted in new board representation. The former CEO, Matthew Messinger, transitioned to a consulting role in August 2024 under a separation arrangement that included $900,000 in payments.
Products & Services
Residential condominium units for sale; rental real estate operations; the primary asset is 77 Greenwich, a mixed-use development in downtown Manhattan.
Revenue Model
Revenue is derived from the sale of residential condominium units and rental income from operating properties held through the TPHGreenwich joint venture. The company functions as asset manager of TPHGreenwich under an Asset Management Agreement.
Customers & Markets
Residential condominium buyers and tenants in the New York City market, specifically downtown Manhattan and Brooklyn.
Geographic Exposure
New York City, concentrated in downtown Manhattan (77 Greenwich) and Brooklyn.
Financial snapshot data is not available right now.
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