NEW YORK CITY—Real estate development and services firm Thor Equities has hired brokerage firm Avison Young to help oversee its New York City office portfolio.

Avision Young's responsibilities will include leasing renewals, availabilities and marketing in conjunction with Thor Equities. A Thor spokesman refused to divulge the size of the real estate development, leasing and management company's New York City portfolio, noting that the firm acts “as a silent partner on a number of deals” it did not want to divulge.”

The assignment comes shortly after Thor Equities vice president of leasing Adam Rappaport left the firm to join Jack Resnick & Sons as its managing director of leasing.

According to the company's website, Thor operates a portfolio of 160 properties worldwide, with portfolio transactions and a development pipeline of more than $10 billion, totaling more than 20 million square feet. The firm, headed by president and CEO Joseph J. Sitt, is headquartered in New York City and has offices in Chicago, San Francisco, Miami, London, Paris and Mexico City.

Some of the more notable Thor office properties included in the Avison Young New York City assignment include: 597 Fifth Ave. (the Scribner Building), 545 Madison Ave., 245 Fifth Ave., and 530 Broadway. In addition to its office holdings in Manhattan on Fifth Avenue, Madison Avenue and Broadway, Thor Equities also owns office properties in Flatiron, SoHo and Downtown Brooklyn. The company also owns prime office, retail, residential, hotel and mixed-use properties in major urban markets throughout North America, Europe and Latin America, including New York City, Chicago, Los Angeles, London, Paris, Mexico City, Guadalajara and Tijuana.

Not included in the Avison Young assignment is Thor Equities' Red Hoeak project, a 750,000-square-foot mixed-use development to be built in the Red Hook section of Brooklyn that is being marketed by CBRE.

“We are pleased to begin working with Avison Young, which we know to have an excellent understanding of the New York City office market,” says Sitt. “We were especially impressed by their deal-making ability, direct leadership involvement, tenant relationships, and overall professionalism.”

Arthur J. Mirante II, principal and tri-state president and John Ryan III, principal, will lead Avison Young's team of five brokers working with Thor Equities on the New York City office portfolio.

“Thor Equities owns a premier portfolio of office assets with great locations. Each of Thor's buildings has its own unique offerings and individual leasing opportunities that will appeal to a diverse tenant base,” Mirante says. “We are confident that the expertise of our team, combined with the commitment and dedication of Avison Young's resources, will translate into strong results and ensure the market recognizes everything these assets offer.”

NEW YORK CITY—Real estate development and services firm Thor Equities has hired brokerage firm Avison Young to help oversee its New York City office portfolio.

The assignment comes shortly after Thor Equities vice president of leasing Adam Rappaport left the firm to join Jack Resnick & Sons as its managing director of leasing.

Arthur J. Mirante II, principal and tri-state president and John Ryan III, principal, will lead Avison Young's team of five brokers working with Thor Equities on the New York City office portfolio.

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Avison Young Lands Thor NYC Office Portfolio Assignment

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