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Thor Buys $260M NoMad Building for Condo Conversion

Thor Equities, Madison Equities, and Building and Land Technology have closed on a $260M deal to purchase a 220k SF building in Extell’s $308M Ring Portfolio, reports Commercial Observer. The 21-story NoMad property at 212 Fifth Ave will be converted to a 48-unit condominium designed by Helpern Architects. Their source says Joseph Sitt (above) included Madison Equities to handle design and construction, while BLT will handle its capital. Town Residential will market the condo conversion as a hipper version of 15 Central Park West.