Thor Equities has acquired 545 Madison Avenue for $53 million and bagged a Noho retail condo for $3 million.
The leasehold for the 18-story, 139,537s/f office and retail tower on the southeast corner of 55th Street and Madison Avenue was sold by LCOR.
The LEED-Gold mixed-use property recently underwent a $100 million redevelopment and is 93.3% leased. Tenants in the office component of the building include high-end financial advisory and investment firms, as well as technology/media firms. Luxury retailers Alfred Dunhill and Panerai, subsidiaries of one of the world’s leading luxury good conglomerates, Richemont, occupy the two floors of retail space.
“545 Madison Avenue is the epitome of what New York City real estate has to offer. It is a state-of-the-art property located at the epicenter of the city’s Plaza District and counts elite financial and tech firms, and luxury retailers as tenants,” said Joseph J. Sitt, CEO of Thor Equities. “This was a rare opportunity to acquire a premier property and we are excited to add it to our growing portfolio.”
The property counts some of New York City’s most exclusive luxury retailers (Tiffany, Thomas Pink, Lacoste, Bendel’s, Armani, Fendi, Pucci, Coach, Bergdorf Goodman, Saks Fifth Avenue and Bulgari), finest hotels (Four Seasons, St Regis, Peninsula, The Regency and Pierre) and top restaurants (Nobu 57, Le Grenouille, Lever House, Daniel, BLT Steak and Adour) as its neighbors.
The stunning tower features a dramatic double-height lobby, floor-to-ceiling glass windows, 9-foot finished ceiling heights, state-of-the-art elevators and mechanical systems, boutique 6,200-9,200 square foot floor plates, and 5 floors with outdoor terraces.
Making a move into NoHo, Thor – the biggest retail landlord in Soho – purchased the retail space at 30 Bond Street in the heart of the trendy district.
“Whether it’s NoHo, SoHo or TriBeCa downtown is white-hot for retail right now,” said Sitt. “While we’re thrilled that our acquisition of the vacant retail space at 30 Bond Street will help expand our portfolio north of Houston street, the real opportunity here is for a retailer to carve out a presence in one of Manhattan’s fastest-growing neighborhoods.”
The property is located between Lafayette and Bowery streets. The ground floor offers 2,200 square-feet of prime retail space, with 800 square-feet on a lower level.