Sales  ·  Commercial

Thor Putting 88 Greenwich Retail Condo on Market for $52M


Thor Equities is putting its retail condominium at 88 Greenwich Street at the southwest corner of Rector Street on the market for $52 million, Commercial Observer has learned.

The two-story, 50,000-square-foot retail condo is primarily leased to the 9/11 Tribute Center, and is at the base of the 37-story, 450,000-square-foot Greenwich Club Residences. The tribute center occupies 32,000 square feet at the property, including the entire second floor with an entrance on the first. The rest of the ground floor is leased to Sauce & Barrel, Coffeed, Yogorino, Petropolis and Dunkin’ Donuts.

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As The Real Deal reported in 2014, Thor Equities got full control of the $25 million commercial condo after purchasing the remaining 50 percent stake in the property from Buttonwood Development for about $12.5 million. The two companies acquired 88 Greenwich Street in 2005 for roughly $200 million and turned it into the 452-condo unit Greenwich Club Residences.

Richard Baxter, Yoron Cohen and Scott Latham of Colliers (CIGI) International have been tapped for the sales assignment.

A spokesman for Thor declined to comment.