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Deals & Dealmakers

Thor Equities acquires Harlem properties

Joe Sitt’s Thor Equities has signed a contract to acquire 135 East 125th Street and 2082 Lexington Avenue in Harlem for $75.5 million.

The adjacent corner buildings total a combined 108,000 s/f, with 430 feet of frontage on 125th Street, Lexington Avenue and 126th Street.

The properties are located next to the 4, 5 and 6 subway lines at 125th Street, and one block from the Metro-North Railroad Harlem-125th Street Station.

They were developed as the Gateway Center by DDM Development Service in 2012.

“With their prime location near the new Whole Foods Market, East River Plaza and numerous public transportation options, these recently constructed buildings are in the heart of Harlem’s rapidly growing 125th Street retail corridor,” said Melissa Gliatta, executive vice president of Thor Equities.

East River Plaza is home to Costco, Target, Best Buy, Marshalls, Old Navy and other national retailers.  Additional businesses near 135 East 125th St. and 2082 Lexington Ave. include Gap, American Eagle Outfitters, Aldi and Joe’s Crab Shack.

135 East 125th St. is a three-story, 45,000 s/f glass and steel building with 26,000 s/f of retail on the ground and second levels, and office space on the third floor. 2082 Lexington Ave. is a contemporary six-story, 63,000 s/f mixed use building with retail on the ground floor, and office space on levels two through six.

Thor Equities owns several properties in the area, including 17 West 125th Street, 526 West 111th Street and 98 Morningside Avenue. Adam Spies and Adam Doneger of Eastdil Secured brokered the sale.

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