Thor, Rockwood Snap up UWS Building [Updated]
Lauren Elkies Schram May 8, 2014, 7 a.m.
Thor Equities‘ residential arm, along with Rockwood Capital, have closed on the purchase of a 70-unit rental building on the Upper West Side, Commercial Observer has learned.
The deal at 838 West End Avenue closed last night, and according to the exclusive broker on the deal, Steven Vegh, president of Westwood Realty Associates, the price was $67 million. The seller was Zauderer Realty Associates LLC.
“838 West End Avenue is the embodiment of our strategy as part of Thor’s new residential division; it is a marquee property, in a prime location that is perfect for residents to call home,” said Jonathan Fishman, who is co-heading the residential division for Thor, in a prepared statement.
The 108,000-square-foot 1913 building at the corner of 101st Street is one of the few rental properties on the avenue.
This is the second transaction that Thor’s residential division has closed since launching in October.
In March, the firm picked up 120 and 125 Riverside Drive, two pre-war rental apartment buildings, for just shy of $85 million, as Commercial Observer previously reported.
Update: This story was updated to include the sale price.