Author Topic: TPHS - Trinity Place Holdings  (Read 14790 times)

pricingpower

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Re: TPHS - Trinity Place Holdings
« Reply #30 on: January 05, 2020, 10:52:10 AM »
For monitoring condo listings in NYC streeteasy.com is solid and supports free email alerts

https://streeteasy.com/building/77-greenwich

There is a large supply of luxury condo conversions/new construction scheduled for 2020 occupancy in the financial district-
130 william
25 park row
33 beekman
45 park place
125 greenwich
161 maiden lane (one seaport)
77 greenwich
1 wall st

1 Wall St is near 77 Greenwich and has a Whole Foods coming as the commercial tenant, that and the Alamo Drafthouse at Chase Plaza should help make the area feel more residential

After monitoring this since pre the bankruptcy I bought my first shares in December as an asset play and looking for a January effect.  Future capital allocation is my top concern.


BG2008

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walkie518

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Re: TPHS - Trinity Place Holdings
« Reply #32 on: March 04, 2020, 09:16:19 AM »
There appears to be a glut of new Condos

https://www.wsj.com/articles/softbanks-fortress-buys-debt-on-troubled-new-york-city-condo-tower-11582984801?mod=hp_major_pos1#cxrecs_s
historically, developers in nyc can't help themselves from building until there is a bust

then again, there is so much demand and rates are so low, it's hard to think that more ppl aren't going to buy rather than rent where there is a better probability for cap appreciation ... though, to be fair, NYC RE is not the same kind of an investment as something with a cap rate more than 5...

BG2008

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Re: TPHS - Trinity Place Holdings
« Reply #33 on: April 21, 2020, 09:42:34 AM »
Any updates on the amount of condo units that are pre-sold?  I want to like this idea, but have stayed away and been happy of that decision so far.  One of the concerns that I have is that TPHS doesn't really offer any shareholder value (at the moment to people).  NAV discount investment thesis are a dime a dozen in the public markets today.  If you can buy Vornado at 1/3 of NAV that pays 7% dividend, why bother with TPHS?  You can buy LAACO and get a 5.5% yield that is very safe.  You can buy GRIF and they are converting into a REIT and will likely start a small and growing dividend yield.  All the other names offers some flavor of real shareholder reward. 

Gregmal

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Re: TPHS - Trinity Place Holdings
« Reply #34 on: April 21, 2020, 10:09:00 AM »
Agreed, I want to like this, but whatever its proposition is there are better propositions in other stuff right now.

On a somewhat tangential note, there's been some articles about tons of "distressed real estate" funds being setup all over. Lot of money just waiting.