The Real Deal New York

Thor buys Flatiron property from nonprofit

Office building at 164 Fifth Avenue closed for $23M
July 14, 2014 12:10PM

Thor Equities acquired a 19,000-square-foot Flatiron District office building for $23 million.

Design nonprofit AIGA owned and currently occupies the site at 164 Fifth Avenue, near 22nd Street. The four-story property will be delivered vacant. The development firm led by Joseph Sitt made a string of recent buys along Fifth Avenue, including 530 Fifth Avenue for $595 million and 685 Fifth Avenue for $475 million.

Thor partnered with  General Growth Properties and RXR Realty in the acquisition of 530 Fifth Avenue, as previously reported. [NYO]Mark Maurer