Yucaipa Cos. Acquires Mixed-use Property In FiDi For $155M

Located in the Financial District (FiDi) of New York City, the mixed-use property at 86 Trinity Place has changed ownership. The transaction took place on October 18, 2021, involving a sale between the buyer, Yucaipa Cos. represented by Ron Burkle, and the seller, David Gilbert of Clarion Partners along with GHC Development represented by Allan Fried. The property spans an area of 181,704 square feet and was sold for a total of $155,000,000, resulting in an average price per square foot of $853.

Summary of Transaction Details:

• Property Type: Mixed-use
• Transaction Amount: $155,000,000
• Address: 86 Trinity Place
• Market: FiDi

Ron Burkle, from Yucaipa Cos., acted as the buyer's representative in this deal. On the other side, David Gilbert, representing Clarion Partners, and Allan Fried, from GHC Development, were responsible for selling the property. The involvement of these key individuals and companies contributed to the successful completion of the transaction.