Thor Picks Up Greene Street Retail Condo for $9M


Joseph Sitt’s Thor Equities has purchased the retail condominium at 45 Greene Street between Broome and Grand Streets in Soho from Urbinova LLC for $9 million, Commercial Observer has learned.

The retail space, occupied by Italian lighting design store FontanaArte, is 3,600 square feet plus a 370-square-foot mezzanine, which opens on both sides of the 2,300-square-foot ground-floor space. FontanaArte has been there since 2009 and the lease expires in 2020, a spokesman for Thor said. Upstairs is a five-unit residential condominium, according to CoStar Group.

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“45 Greene Street is ideally located in Soho, which remains one of the most sought after neighborhoods in Manhattan for high-end and fashion forward retailers,” Mr. Sitt, the chief executive officer of Thor Equities, said in prepared remarks.

Urbinova LLC purchased the unit in 1999, according to property records.

Thor owns a lot of properties (the whole building or just the retail) in Soho, and on Greene Street in particular. Those include 11 Greene Street, 31 Greene Street, 37-39 Greene Street, 41-43 Greene Street, 51 Greene Street, 53 Greene Street, 55.5 Greene Street, 57 Greene Street, 59 Greene Street, 60 Greene Street, 63 Greene Street, 70 Greene Street and 136 Greene Street.