New York, NY Thor Equities, a global leader in urban real estate development, leasing and management, has acquired the ground floor of 31 Greene St. in SoHo.
Situated between Canal and Grand Sts., the property features 2,900 s/f with frontage along Greene St.
“Demand for space in SoHo continues to be strong, particularly from high-end international and fashion-forward brands,” said Joseph Sitt, CEO of Thor Equities.
SoHo is home to some of the city’s top performing stores for national and international retailers including Chanel, Dolce & Gabbana, Stella McCartney, Marc Jacobs and Prada.
31 Greene St. is the latest addition to Thor Equities’ expanding SoHo portfolio, which includes additional holdings along Greene St., Broadway, West Broadway and Mercer St.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,