The Real Deal New York

Thor, Taconic look to sell Samsung offices in Meatpacking

Electronics giant to occupy entire six-story building through 2025
November 11, 2014 01:45PM

Thor Equities and Taconic Investment Partners are putting a six-story Meatpacking District office property that is entirely leased to Samsung Electronics North America on the market.

Samsung is expected to occupy 837 Washington Street as an office and marketing space through September 2025. The lease deal comes with yearly increases and two five-year renewal options with 15 months’ notice. Douglas Harmon and Adam Spies of Eastdil Secured are marketing the sale of the building. The expected purchase price was not disclosed.

“With a brand new mixed-use asset and no near-term lease expiration in the next 10 years, there are no capital requirements from either a leasing or physical standpoint,” the Eastdil Secured team said in a marketing flier cited by the New York Observer.

Samsung signed for 55,000 square feet of space at the glass building, between Little West 12th and 13th streets, earlier this year, as previously reported. [NYO]Mark Maurer