Vegh of Westwood Realty arranges $85 million sale of two apartment properties; 120 and 125 Riverside Drive purchased by Thor Equities

Steven Vegh of Westwood Realty Associates represented the buyer and seller in the off-market sale of 120 and 125 Riverside Dr. for $85 million. The seller was a local investor and the purchaser was Thor Equities in their first residential purchase. The two apartment properties, located at 120 and 125 Riverside Dr. at West 84th St., have a total of 97 units between them. No. 120 was constructed in 1907 and stretches nine stories tall, while 125 Riverside, built the same year, is 12 stories. Together, the two buildings span more than 135,000 s/f. Thor's Joseph Sitt partnered with Alan Klein and Jonathan Fishman, both formerly of Stonehenge Partners, to launch Thor Equities' new residential division in October. Though the firm currently owns a stake in brokerage TOWN Residential, the move was otherwise a first for the company, which has over 15 million s/f of space in cities around the world. "This was seen as an incredible opportunity for Alan and Jon to enter the core N.Y. real estate market in their new venture. These buildings are irreplaceable and with their vision and experience they will succeed with this asset," said Vegh. Vegh formed Westwood Realty Associates two years ago and acts as the only broker in the company. He has been involved in over $1million of off market sales in N.Y. since the launch.