Trinity Place Holdings Inc.: management transactions · United States · SEC (Form 4)

About Trinity Place Holdings Inc.

Trinity Place Holdings Inc. (TPHS) is a United States-listed real estate company whose public-market presence has been associated with NYSE American and, more broadly, the NYSE/NASDAQ universe used by market data providers for small-cap U.S. equities. For francophone investors looking at the name through the lens of SEC Form 4 insider activity, TPHS should be understood primarily as a niche New York–centric property company rather than a diversified national landlord. The company was incorporated in 2012 and is headquartered in New York, New York, placing it at the center of one of the most competitive and highest-value real estate markets in the United States. TPHS describes itself as a real estate holding, investment, development, and asset management company. Its historical strategy has centered on assets in the New York metropolitan area, including 77 Greenwich Street in Lower Manhattan, a mixed-use development that includes residential condominium units, retail space, and a New York City elementary school, as well as 237 11th Street in Brooklyn, a 105-unit multifamily property. The company has also referenced a retail-occupied property in Paramus, New Jersey. In 2024, Trinity executed a significant reorganization: certain real estate assets and related liabilities were transferred to TPHGreenwich Holdings LLC, which is now 95% owned by the company and 5% owned by an affiliate of its corporate credit facility lender, with that affiliate also acting as manager. As a result, the economics and reporting visibility of those assets changed materially. From a competitive standpoint, Trinity Place is best viewed as a small, asset-specific platform with concentrated exposure to the New York real estate cycle. It does not compete on scale with large listed U.S. REITs or diversified developers; instead, its value proposition lies in the potential monetization, development completion, and active management of a limited number of properties in premium locations. That makes the equity highly sensitive to financing conditions, execution risk, property-level lease-up or sale outcomes, and broader commercial and residential real estate sentiment in the United States. Recent company developments have been notable. Trinity disclosed NYSE American compliance-related communication in 2024, then reported additional restructuring and transaction activity in 2025, including a transfer of JV ownership interests and a stock purchase agreement involving an affiliate of Steel Partners. Recent earnings releases also indicate a very small operating base, limited revenues, and an ongoing balance-sheet transition. In short, TPHS remains a speculative, event-driven real estate story tied to asset monetization and capital structure decisions, with its investment case driven more by selective property value realization than by steady recurring cash flow.