Related Drops $115M On Tribeca Development Site

Law360, New York (March 18, 2014, 4:02 PM EDT) -- The Related Companies LP has purchased a development site in Manhattan's Tribeca neighborhood from restaurant, warehouse and auto-shop landlord Ponte Equities Inc. for $115.3 million, property records signed last week and made public Tuesday show.

The deal includes the western-facing side of the block on West Street between Desbrosses and Vestry Streets on Manhattan's far west side, close to the Holland Tunnel. The addresses include 264-270 West St. and 33-35 Desbrosses St.

It's not yet clear what Related, which has several commercial and residential projects ongoing...
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