Thor Equities Buying Madison Avenue Townhouse
Lauren Elkies Schram May 15, 2014, 11:56 a.m.
In an unusual move, Thor Equities has agreed to buy an architecturally significant townhouse at 36 East 61st Street, Commercial Observer has learned. The deal is slated to close this summer.
The house is seven stories and comprises 15,900 square feet. Thor declined to provide the contract price but comparables in the area are between $25 million and $35 million. The seller is a high-net worth family, a Thor spokesman said, and the property is being used for offices.
Thor plans to give a prospective tenant a “blank canvas” with which to work. The property can be used as a residence, showroom, office or retail shop.
“The Upper East Side remains the pinnacle of New York City luxury,” said Joseph Sitt, CEO of Thor Equities, in a prepared statement. “This beautiful, ideally located townhouse is perfect for anyone wishing to catch the eye of Manhattan’s elite.”
Thor Equities is an urban real estate development, leasing and management company with hotel, commercial, residential, retail and mixed-use assets. It wasn’t immediately clear why the company wanted to acquire the townhouse.