New York investor Thor Equities is looking to capitalize on the transformation of Miami’s Design District into a luxury retail hub.
A high street retail specialist, Thor recently picked up a small building located a block away from the site of the $1 billion Design District development, according to Miami-Dade County records. Thor paid about $5.7 million for the 53 Northeast 39th Street property on March 3. The county recorded the transaction last Thursday.
Thor also owns several retail properties on Lincoln Road and Collins Avenue in Miami Beach.
Aventura-based ESJ Design District, which is tied to ESJ Capital Partners, sold the 1,702-square-foot building to Thor. ESJ paid $3.5 million for the property in May 2012.
Numerous high-end retailers are flocking to the district, including Cartier, Hermes, Louis Vuitton and Tory Burch. — Eric Kalis