Thor Equities Puts Retail Condo Near Wall Street On The Market
Thor has listed its retail condominium at 88 Greenwich St., which houses the 9/11 Memorial on the edge of the Financial District, at a price of $52M, according to the Commercial Observer. The memorial takes up 32K of the 50K SF condo, including the entire second floor. The rest contains food-and-beverage occupants Sauce & Barrel, Coffeed, Yogorino and Dunkin’ Donuts, as well as pet groomer Petropolis.
Above the retail portion sits Greenwich Club Residences, a 452-condominium project, which Thor acquired in conjunction with Buttonwood Development in 2005. Thor bought Buttonwood's half of the retail condo for $12.5M in 2014.
Thor has retained Colliers International to market the property and arrange a sale, which would be the latest in a handful of exits from New York retail for Thor. Those moves have come in conjunction with acquisitions in multifamily and office, such as its purchase of a London office property earlier this month.
UPDATE 8/16 9:15 AM: Bisnow has confirmed that 88 Greenwich Street has been listed at $52M.