Thor Sells 155 Mercer St To ABS For $90M
ABS Real Estate Investments is under contract to purchase the four-story retail building at 155 Mercer St from Thor Equities for $90M.
Dolce & Gabbana has triple-net leased the building’s entire 15k SF since last March, and is currently working on its build-out, the Commercial Observer reports.
Thor put the building on the block last Feburary, with Meridian Capital Group’s Helen Hwang. Thor picked up the building back in 2013 for $27M, and the sale is part of an ongoing sell-off of Manhattan retail, and concurrent acquisition spree of office/multifamily properties, Thor’s been carrying out the past few months. [CO]