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

TRD New York /
Apr.April 04, 2014 06:37 PM

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


Related Articles

arrow_forward_ios

For mall owners like Simon, Brookfield and Vornado, Forever 21 bankruptcy signals more trouble ahead

Joe Sitt and 1725 Shore Parkway in Bensonhurst (Credit: Google Maps)

Thor sells Bensonhurst big-box store for $75M

545 Madison Avenue and Thor Equities CEO Joe Sitt (Credit: Google Maps)

Thor Equities on the verge of losing another building in Manhattan

10 Madison Square West (Credit: StreetEasy, iStock)

Lawsuit: Pet Smart’s animal excrement is stinking up this $11K-a-month apartment

AOC unveils rent regulation plan, Hong Kong real estate stocks are sinking: Daily digest

Introducing ThorLogis, Thor Equities’ ambitious plan to break into logistics and e-commerce

From left: Mayor Bill de Blasio, 54 West 39th Street, 62 Grand Street, and 208 West 30th Street (Credit: Google Maps)

The Airbnb crackdown continues: City targets three more buildings

Clockwise from top left: 312 West 34th Street, 61 North 9th Street, 639 Classon Avenue, and One Fulton Square (Credit: Google Maps)

These were the top 10 NYC retail leases in July

arrow_forward_ios