NEW YORK CITY—Thor Equities is in contract to buy a trio of smaller office buildings in Midtown from Samson Management. A spokesman for Thor confirms a New York Post report that the company is paying $218 million for the three properties, which total 320,000 square feet.
The deal includes 24 W. 40th St. on Bryant Park, 45 W. 45th St. and 145 W. 45th St., each of which has ground-floor retail. The Post reported that Thor founder and CEO Joseph Sitt is planning to reposition the properties for tenants in the media and technology sectors.
It’s been a characteristically acquisitive summer for Thor Equities. In late June, GlobeSt.com reported that a partnership led by Thor was in contract to buy 530 Fifth Ave., a 26-story office and retail building, from Rockwood Capital, Jamestown, Murray Hill Properties and Crown Acquisitions, for $595 million.
The following week, a partnership of Thor and the Moinian Group announced a repositioning program for 245 Fifth Ave. Here again, the idea is to make it appealing for tech, media and creative tenants.
As the month ended, Thor and General Growth Properties closed on their acquisition of 685 Fifth Ave. The purchase price was not disclosed; the Real Deal reported that the partnership was paying $475 million to acquire the 134,215-square-foot retail and office property from Gucci.