Peter Tal pays $2.5M to Fisher Brothers for three retail condos in Financial District

Peter Tal through the entity 111 Murray St NY LLC paid $2.5 million to Fisher Brothers through the entity Henry V Murray Senior LLC for three retail condominium units at 111 Murray Street in Financial District, Manhattan. The expected use is cash flowing.
The deal closed on June 18, 2025 and was recorded on June 27, 2025. The three properties have 2,178 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,170 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Fisher Brothers was Winston Fisher . The signatory for Peter Tal was Peter Tal. The contract date was February 7, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Peter Tal purchased one property in one transaction for a total of $14.7 million and has no record it sold any properties over the past 24 months.
The seller Fisher Brothers had not purchased any other properties and sold one property in one transaction for a total of $57.5 million over the same time period.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

For the tax lot buildings, one out of the three buildings received a initial certificate of occupancy in the last ten years. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot. On the tax lot, the most recent condominium plan was filed by HENRY V MURRAY SENIOR LLC to create 157 residential units and 3 commercial units in a building at 111 Murray Street in Financial District, Manhattan, called 111 Murray Street Condominium that has a $1.1 billion sellout, according to an November 21, 2014 submission to the New York State Attorney General. The principals of the sponsor, HENRY V MURRAY SENIOR LLC, were Scott Alper, Winston Fisher, James Stomber Jr, and Steven Witkoff.

The neighborhood

In Financial District, The majority, or 74 percent of the 79.9 million square feet of commercial built space are office buildings, with elevator buildings next occupying 15 percent of the space. In sales, Financial District has the 5th highest sale turnover among other neighborhoods in the city with $1.7 billion in sales volume in the last two years. For development, Financial District is the 3rd most active neighborhood among other neighborhoods. It had 14.5 million square feet of commercial and multi-family construction under development in the last two years, which represents 18 percent of the neighborhood’s built space.

The block

On the tax block of 111 Murray St, PincusCo has identified the owners of one of the three commercial properties representing 1,970,736 square feet of the 2,817,556 square feet. The identified owner is Stellar Management.
There are no active new building construction projects on this tax block.

The majority, or 70 percent of the 2.8 million square feet of built space are elevator buildings, with specialty buildings next occupying 30 percent of the space.

The seller

The PincusCo database currently indicates that Fisher Brothers owned at least seven commercial properties with 372 residential units in New York City with 5,792,908 square feet and a city-determined market value of $2.5 billion. (Market value is typically about 50% of actual value.) The portfolio has $1.2 billion in debt, with top three lenders as Citibank, JPMorgan Chase, and Morgan Stanley respectively. Within the portfolio, the bulk, or 86 percent of the 5,792,908 square feet of built space are office properties, with hotel properties next occupying 8 percent of the space. They are all located in Manhattan.

The buyer

The PincusCo database currently indicates that Peter Tal owned at least one commercial property in New York City with 31,000 square feet and a city-determined market value of $9.2 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single retail property. It is located in Queens.

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