Thor Equities closes on two Manhattan properties for $75.5 million; Spies and Doneger of Eastdil Secured handle transaction

Manhattan, NY Thor Equities has closed on its acquisition of 135 East 125^th St. and 126 East 126^th St. in Harlem for $75.5 million.

“135 East 125^th St. and 126 East 126^th St. are premier buildings located in the heart of Harlem, which is continuing to grow as a prime retail and office destination, particularly along the thriving 125^th St. corridor,” said Joe Sitt, CEO of Thor Equities.

The adjacent corner buildings total a combined 108,000 s/f, with 430 ft. of frontage on 125^th St., Lexington Ave. and 126^th St.  The properties are next to the 4, 5 and 6 subway lines at 125^th St., and one block from the Metro-North Railroad Harlem-125^th St. Station.

Adam Spies and Adam Doneger of Eastdil Secured handled this deal.

135 East 125^th St. is a recently constructed four-story, 45,000 s/f glass and steel building with 26,000 s/f of retail on the ground and second levels, office space on the third floor, and over 250 ft. of wrap-around frontage on 125^th St. and Lexington Ave.

126 East 126^th St. is a contemporary six-story, 63,000 s/f mixed use building with ground floor retail space occupied by IHOP, and office space on levels two through six.

The nearby East River Plaza is home to Costco, Target, Best Buy, Marshalls, Old Navy and other national retailers.  Additional businesses in the area include Whole Foods, Gap, American Eagle Outfitters, Aldi and Joe’s Crab Shack, with a new Bed Bath & Beyond opening soon.

Thor Equities owns a number of additional properties in the surrounding area including 17 West 125th St., 526 West 111th St., 17 West 125th St., 556-566 West 126th St., 215 West 116th St., and 98 Morningside Ave.