Thor Equities Closes on Sale of Two UWS Buildings for $85M
By Lauren Elkies Schram March 21, 2014 12:27 pm
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The residential division of Thor Equities and GreenOak have officially closed on their purchase of two Upper West Side pre-war rental apartment buildings for $85 million.
The two properties, at 120 and 125 Riverside Drive, at 84th Street, have 97 units between them. The sale closed March 11 and appeared in public records yesterday.
The seller was a private trust, which just owned the two properties. Separate but with a connecting lobby, the buildings include 110,000 gross square feet.
Steven Vegh of Westwood Realty Associates, the lone broker in the deal, said what makes the buildings great is the water views and irreplaceable bricks.
The buildings are two of a handful of rental properties on Riverside Drive south of 96th Street.
“This stretch of the Upper West Side has long been one of New York City’s most exclusive residential neighborhoods, and pre-war buildings have never lost their luster,” said Joe Sitt, CEO of Thor, in a prepared statement. “New York City’s residential market is on top of the world and we look forward to expanding Thor’s portfolio and becoming a leader in this space.”
