Thor, Premier Equities Pay $12M for Greene Street Retail Condo
Terence Cullen June 22, 2015, 2:30 p.m.
Thor Equities and Premier Equities have closed on a 3,500-square-foot retail condominium in Soho for $12 million, property records show.
With its purchase of the condo at 37-39 Greene Street, Thor adds to its cadre of retail spaces along the strip, which it’s been buying up like they’re Louis Vuitton bags. The retail space is currently occupied by Kartell, an Italian furniture and home design company, according to Thor and a Kartell employee. Kartell currently has a lease running through 2022, according to a source with knowledge of the sale.
“As demand for Soho retail space continues to soar, we remain very bullish on the future of the market in this neighborhood,” said Joseph Sitt, the chief executive office of Thor, in prepared remarks. “Greene Street has become one of the most dynamic shopping corridors in Manhattan, and we are excited to add this first-class property to our expansive portfolio.”
The sale closed on June 8 and hit city records this morning. A Thor spokesman could not provide who the brokers were in the deal. Stephen Bluttal is listed as the seller. He was not immediately reachable for comment.
An employee of Premier Equities had no comment when contacted by Commercial Observer about the sale.
In March, Thor scooped up the retail space at neighboring 41-43 Greene Street for $10.5 million, as CO reported. That 3,750-square-foot space was purchased vacant from Italian mosaic company Bisazza. The space is also one of 10 retail properties on Greene Street that Thor lists in its portfolio, including 11 Greene Street, 138 Greene Street, 136 Greene Street, 55.5 Greene Street and 57-63 Greene Street.