Thor Snatches Two Top Commercial Properties in Harlem
- Jun 16, 2016
New York—Thor Equities announced the acquisition of two premier commercial buildings in Harlem for $75.5 million. The adjacent corner properties feature more than 100,000 square feet of space and 430 feet of frontage on 125th Street, Lexington Avenue and 126th Street.
“135 East 125th Street and 126 East 126th Street are premier buildings located in the heart of Harlem, which is continuing to grow as a prime retail and office destination, particularly along the thriving 125th Street corridor,” Joe Sitt, CEO of Thor Equities, said in a prepared statement.
The four-story property on 125th Street is a recent glass and steel construction offering 45,000 square feet of office and retail space. The adjacent six-story building on 126th Street features 63,000 square feet of office and retail space, with IHOP as their ground floor tenant. “Thor plans to renovate and lease available retail and office space in the buildings,” Joshua Greenwald, a representative of Thor Equities, told Commercial Property Executive.
The two buildings are located in the vicinity of the 4, 5 and 6 subway lines, and one block from the Metro-North Railroad Harlem station on 125th Street. East River Plaza and several other popular retailers and restaurants are also nearby.
Six other buildings in the area are part of Thor Equities’ portfolio, including 17 W. 125th St. and 556-566 W. 126th St. The New York-based real estate company recently acquired a premium commercial property on Fifth Avenue for $525 million.