Thor Equities announced the purchase of 452 West Broadway in SoHo for $6 million.
“In 2014, there will be extremely few real estate opportunities more attractive than SoHo,” Joe Sitt, ceo of Thor Equities, said in a statement. “452 West Broadway is prime space for a luxury retailer to expand its brand and gain optimum exposure.”
The three-story space is located between Prince and West Houston Streets and offers 20 feet of frontage. The building has recently been renovated with ultra-sleek floor to ceiling glass windows and spans more than 2,150 square feet — 800 on the ground floor, 650 on the mezzanine, and 900 on the lower level.
The seller was Ferrim USA, a company owned by the designers Massimo and Alberta Ferretti. Neighboring retailers include Emporio Armani, Missoni, La Perla, and Reiss. Laduree and Bonpoint are under construction and set to debut in 2014.
Kinsey Capital associate director Martin Khait was the sole broker in the transaction. “We’re witnessing an exciting a trend of premier SoHo retail spreading westward and it’s creating a lot of activity on West Broadway,” said Khait. “We think Thor has a great opportunity to unlock value in this property.”