Thor playing with fire at 155 Mercer St.

TRD New York /
May.May 13, 2013 10:00 AM

Thor Equities is looking to overhaul the former headquarters of the New York City Fire Department in Soho, the New York Times reported.

Fireman’s Hall, located at 155 Mercer Street, was home to several fire companies until 1974, at which point it became a hub for art organizations and the Joyce Theater. Thor’s CEO Joseph Sitt purchased the building last year, and has the ability to build a completely new structure at the site.

But in order to offer lucrative retail space on the ground floor, Thor must secure a special permit, and recreating the original façade of the 1855 building would help them secure it. To this end, Thor has hired PKSB Architects, which will retain the original ground-floor cast-iron front, build the brownstone out of precast concrete, and leave out the element crowning the old building.

Sitt recently secured rents in excess of $2,000 per square foot at the Takashimaya building, as The Real Deal reported. [NYT]  –Hiten Samtani

 

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