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NEW YORK CITY- Real estateinvestment management firms Thor Equities Group and United AmericanLand have partnered to acquire the retail condominium of FlushingCommons in Flushing, Queens, for $42 million. The portion of theproperty spans 30,000 square feet and is a part of a mixed-useproject in the submarket, which includes several phases that arecurrently under development.
"Downtown Flushing has a thrivingcentral business district and we see tremendous opportunity in thedesirable market. After turning our attention towards building ourThor Sciences and ThorLogis platforms, we are excited about ourfirst retail acquisition in New York in nearly five years," saidChairman of Thor Equities Group Joe Sitt in a preparedstatement.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
