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Tribeca Development Site Fetches $31M

NEW YORK CITY-Henry Feld of Millenium on Long Island buys the conversion and development site from Melvin Heller of locally based Heller Properties.

By Natalie Dolce | Updated on August 29, 2007

(Read more on the multifamily market.)

NEW YORK CITY-A conversion and development site at 136 Church St. in Manhattan’s Tribeca neighborhood goes for $30.5 million. A source tells GlobeSt.com that the buyer was Henry Feld of Millenium and the seller was Melvin Heller of locally based Heller Properties.

“The seller knew it was the right time to get this on the market because conversion and development sites are still hot, which is obvious by the price tag,” a source close to the transaction tells GlobeSt.com. “The buyer plans to take full advantage in the future of the approved plans to build three additional stories.”

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