NEW YORK CITY—Thor Equities has inked a deal to acquire 180 Bedford Avenue in Williamsburg, a site with potential for further development. Industry sources say the selling price was $36 million.
Located a heavily-trafficked corner of Williamsburg at Bedford Avenue and North 7th Street, 180 Bedford is across from the Bedford Avenue L, the first stop from Manhattan and the only station to serve the surrounding area.
180 Bedford Avenue is a 3,600-square-foot site, with the potential to build a total of 14,400 square feet of rentable space on the ground floor, second level, basement and roof. The property boasts over 60 feet of frontage on Bedford Avenue and an additional 60 feet of frontage on North 7th Street.
“In addition to undergoing an extraordinary amount of residential and commercial development in recent years, Bedford Avenue in Williamsburg has become a major shopping and dining hub, with strong demand and limited availability of new, high-quality retail space,” said Joseph Sitt, CEO of Thor Equities.
Apple Store and Whole Foods are opening locations nearby on Bedford Street, and other national brands in the area include J Crew, Joe Fresh, Diesel, Starbucks and Urban Outfitters.
Thor Equities is a global leader in urban real estate development, leasing and management, pursuing premier hotel, commercial, residential, retail and mixed-use assets in high-density areas. Through its brokerage affiliates, Thor Retail Advisors, it is also a premier leasing agent for third-party property owners.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
