Thor Equities scores $85M for Midtown HQ

AIG Investments provided the financing on the 18-story building

TRD New York /
Nov.November 02, 2017 12:35 PM

25 West 39th Street and Joe Sitt

Joe Sitt’s Thor Equities locked down $85 million to refinance its headquarters at 25 West 39th Street, according to records filed with the city.

AIG Investments provided the financing on the 18-story office building. The financing consolidates a previous $79 million loan with a new $6 million mortgage, the documents show.

Thor and its affiliates, Thor Retail Advisors and Thor Equities Residential, occupy roughly 45,000 square feet across three floors of the building. Other tenants there include Polo Ralph Lauren and watchmaker Movado.

Last year, Thor weighed selling the 208,000-square-foot building, which sources said could fetch $200 million or more. In August, Thor refinanced its retail condominium at 680 Madison Avenue with a $310 million loan package, according to sources and public records.

Representatives for Thor and AIG Investments could not be immediately reached for comment.

Chava Gourarie contributed to reporting.

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