Third Avenue Buys 16.85% of Trinity Place Holdings

Third Avenue, Trinity Place: In a recent filing, Third Avenue Management, managed by Martin Whitman, disclosed initiating a significant position in Trinity Place Holdings Inc (OTCMKTS:TPHS), through acquiring 3.37 million shares of the company. The shares were acquired for almost $13.48 million, while the stake represents 16.85% of its shares. In the latest 13F Third Avenue reported no shares of Trinity Place Holdings. Through the acquisition of  a major stake, Third Avenue will be able to appoint someone to the Board of Trinity.

Trinity Place Holdings

Disclosure: none