ESRT’s 1359 Broadway Selling to Thor for $218M
The 22-story office building had been on the market for roughly a month
Only a month after Commercial Observer learned it was going on the market, Empire State Realty Trust (ESRT) has found a buyer for 1359 Broadway in Thor Equities, which agreed to pay $218 million for the 22-story office building, according to sources.
This is not much lower than the $225 million the 486,000-square-foot property was being shopped around for earlier this summer.
Neither ESRT nor Thor responded to CO’s requests for comment. ESRT was represented by Newmark’s Adam Spies, Josh King, Adam Doneger, Avery Silverstein, Marcella Fasulo and Doug Harmon, who also did not respond to requests for comment by press time. CO was not able to learn who represented Thor.
The property, just two blocks north of Herald Square, was 95 percent occupied as of last month, having inked recent leases with Infinium Wall Systems, SLCE Architects and nonprofit Braven, and has a Wolfgang’s Steakhouse and Wokuni in the retail portion.
The purchase, expected to close in the next month or two and not official yet, is not Thor’s first dip into the Midtown office market this year. In March, CO reported that Joe Sitt’s company had purchased Michael Haddad’s 58,000-square-foot office and retail building, 1165 Broadway, for $56 million.
Max Gross can be reached at mgross@commercialobserver.com.
