The Real Deal New York

Thor Equities pays $11M for City Hall retail

Retail co-op includes 10,000 square feet of retail space, 6,000 square feet of storage space
April 04, 2014 06:37PM

UPDATED: 7:30 a.m., April 5: Joe Sitt’s Thor Equities purchased a retail cooperative unit at 38 Park Row with frontage on Beekman and Nassau streets, across the street from City Hall Park in Lower Manhattan, the company told The Real Deal. Sources said the sale price was $11.08 million.

Thor purchased the ground-floor in the Potter Building, a residential co-op with retail on the first floor. The 11-story building is a city landmark. Tenants among the nine individual storefronts include Starbucks and Antonella’s Barber Shop. The sale closed March 31, insiders said.

The retail co-op includes 10,000 square feet of retail space and 6,000 square feet of storage space, a person familiar with the property said.

The seller was an affiliate of Time Equities, city records show. Hy Schermer and Scott Klatsky of Time Equities represented the seller as in-house brokers. —Adam Pincus