Thor Closes on 734 Broadway for $17M
Lauren Elkies Schram June 5, 2015, 11:20 a.m.
Thor Equities closed on its purchase of 734 Broadway south of Astor Place from Extell Development for $17 million, Commercial Observer has learned. CO first reported when the contract was signed in February, but did not have a sale price.
Yesterday’s purchase of the five-story landmarked cast-iron building includes 6,500 square feet of usable retail space with 25 feet of frontage, and four floors of office space totaling 12,500 square feet. The property is currently vacant and will undergo renovations.
Jonathan Butwin and Scott Dweck of Town Commercial represented the buyer and Extell handled the sale internally.
“With the surrounding area increasingly becoming a sought after destination for both shopping and working, the need for prime retail and office space in Noho will only continue to grow,” Mr. Butwin said in prepared remarks.
In November 2011, Mr. Barnett bought the building along with 736 Broadway for $11 million, property records indicate.