The Real Deal New York

Premier, Thor buy Soho mixed-use buildings for $22M 

East End Capital sold Nike Sportswear site to duo late last year  

May 28, 2014 02:25PM
By Mark Maurer

mercer-premier

25-27 Mercer Street and Premier’s Uzi Ben Abraham

Premier Equities and Thor Equities jointly closed on the $22 million purchase of a pair of Soho mixed-use buildings from East End Capital.

The five-story mixed-use building at 25 Mercer Street and the three-story, 10-unit building at 27 Mercer Street were officially sold Friday as part of a $33 million portfolio. Sportswear retailer Surface to Air occupies the ground floor of 27 Mercer. The five-story manufacturing building at 21 Mercer, which houses a stand-alone Nike Sportswear store on the ground floor, sold separately for $11 million to Thor and Premier late last year. All three properties entered contract last June, as The Real Deal reported.An Eastern Consolidated team of executive managing director David Schechtman, senior director Lipa Lieberman and associate Abie Kassin represented both the buyers and the seller, sources said.

“It was a long time coming and reflects the continued strength of the southern part of Soho, about 150 feet from Canal Street,” Schechtman told The Real Deal.

Carol Hensley-Chester, director at Premier Equities, said there are no plans to redevelop or renovate the properties.

Premier and Thor also jointly own 57-63 Greene Street and 70 Greene Street in Soho. A spokesperson for Thor could not be immediately reached.

In 2012, East End Capital bought 21 Mercer Street and 25-27 Mercer Street – about 27,750 square feet in full – from real estate investment fund Aion Partners for a combined $18 million, as previously reported. Lieberman and Schechtman represented the seller and procured the buyer in that deal.

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