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Thor Equities is continuing its shedding of retail properties by putting another of its properties up for sale.
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.
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