Premium Retail Property in NoHo Lands New Owner
- May 19, 2016
New York—Thor Equities acquired a first-class commercial property at 306 Bowery in NoHo for $8.2 million. The retail space spans across 6,700 square feet, including the ground floor and lower levels, and it benefits from two separate entrances, on Bowery and Elizabeth Streets. Interior facilities include a 30-foot interior skylight, exposed brick walls, and more than 35 feet of prime frontage.
Popular fashion brand Patricia Field previously occupied the premises and Thor Equities is looking to close a new lease. “Our plans are to lease the space to a flagship retail tenant”, Thor Equities’ Director of Communications Joshua Greenwald told Commercial Property Executive.
The area is popular with fashion brands, as Billy Reid, John Varvatos and Patagonia all have boutiques nearby. The hospitality sector is also blooming in NoHo. The area features Bowery Hotel, Ian Schrager’s Public Hotel, Ace Hotel and citizenM as chic accommodation facilities that are already operating or are scheduled for opening. The buildings at 250 Bowery, 255 Bowery and 2 Cooper Square are just some of the high-end residential properties in the district.
NoHo also offers several great options for art and food aficionados, being one of Manhattan’s most animated nightlife scenes. “The Bowery is continuing its transformation into one of Manhattan’s most vibrant shopping corridors, fueled by the area’s new residential development, boutique hotels, museums, art galleries and nightlife,” said Joseph Sitt, CEO of Thor Equities.
Thor Equities owns several other properties in NoHo, including 195 Bowery, 176 Bowery, 734 Broadway, 30 Bond Street and 50 Bond Street.
Image courtesy of Thor Equities