Thor Equities

Checking In On Ceruzzi Properties’ Planned 76-Story Skyscraper at 520 Fifth Avenue, in Midtown Manhattan

8:00 am on January 14, 2019 By Michael Young

Set to rise at the northern corner of Fifth Avenue and West 43rd Street, 520 Fifth Avenue is likely to be the first skyscraper along Fifth Avenue to top the 900-foot mark. The project will rise in the heart of Midtown, one street away from the eastern end of Bryant Park. The glass-enclosed tower will have 76 floors and stand 920 feet to its pinnacle. Handel Architects is the architect, and Arthur Hooper of Ceruzzi Properties will be developing in conjunction with SMI USA.

Demolition Permits Filed for 1297 and 1299 3rd Avenue, Upper East Side

7:00 am on March 1, 2018 By Andrew Nelson

Demolition permits have been filed for the existing structures at 1297 and 1299 3^rd Avenue on Manhattan’s Upper East Side, between 74^th and 75^th Street. The site is three blocks away from the 77^th Street subway station, serviced by the 4 and 6 trains, and four blocks away from the 72^nd Street subway station, serviced by the Q trains. Continental Ventures is listed as responsible for the demolition.

Developers Plan 31-Story, 100,000-Square-Foot Condominium Tower at 1297 Third Avenue, Upper East Side

6:30 am on January 30, 2017 By Reid Wilson

Premier Equities and Thor Equities are partnering to develop a 31-story, 100,000-square-foot residential tower at 1297-1299 Third Avenue, located between East 74th and 75th streets on the Upper East Side.

Developer Acquires Site Of Planned Two-Story, 14,500-Square-Foot Retail Building At 176 Bedford Avenue, Williamsburg

12:00 pm on October 17, 2016 By Reid Wilson

In the spring of 2015, Thor Equities entered into contract for the development site at 176 Bedford Avenue, located on the corner of North 7th Street in North Williamsburg. The developer has since closed on the property for $30 million. The developer plans to build a two-story, 14,500-square-foot commercial-retail building.

Six Stories of Retail Come Together at 529 Broadway in SoHo

3:00 pm on September 2, 2016 By Rebecca Baird-Remba

A copper-colored, terra cotta and glass facade has emerged at 529 Broadway, on the corner of Spring Street in Soho. Tectonic has the latest look at the construction.

New Rendering Revealed of Two-Building Office Complex Planned at 270 Richards Street, Red Hook

7:00 am on August 11, 2016 By Reid Wilson

An overhead rendering has been revealed of the planned two-building, four-story (plus penthouse) office complex, dubbed Red Hoek Point and located at 270 Richards Street, the former site of the Revere Sugar Refinery in Red Hook. The rendering, published by Curbed NY, shows off the project’s outdoor spaces, which will include a central plaza, waterfront esplanade, and landscaped rooftop terraces. YIMBY reported on the project’s new building applications in June. The filings described an office complex encompassing 1,135,610 square feet, of which 645,103 square feet will be commercial space for offices and retail. Thor Equities, the developer, is planning a 1,112-car parking garage in the cellar, although a variance must first be obtained to build it. Ground-floor retail and restaurant space will measure 23,000 square feet. Sir Norman Foster’s London-based Foster + Partners is the design architect, while Adamson Associates Architects is serving as the executive architect. Groundbreaking is expected this fall.

Thor Plans Office Space on Revere Sugar Site at 270 Richards Street in Red Hook

7:30 am on June 13, 2016 By Rebecca Baird-Remba

It’s been a decade since Thor Equities demolished the iconic Revere Sugar Refinery on the Red Hook waterfront. Now, they’ve finally filed plans for a five-story office building on the huge lot at 270 Richards Street, between Van Brunt and Dwight streets.

Four-Story, 623,000-Square-Foot Commercial Complex Revealed, 280 Richards Street, Red Hook

11:00 am on June 3, 2016 By Reid Wilson

Back in 2005, Thor Equities acquired, for $40 million, the 7.7-acre Revere Sugar Refinery site at 280 Richards Street, located south of Beard Street in Red Hook. The developer later demolished the refinery (the last photos of it can be found here), and has since been floating the idea of building a massive mixed-use project with residential units and commercial space. The developer is now moving forward with plans for a four-story, 623,000-square-foot commercial complex, Bloomberg reported. It will include 600,000 square feet of office space and will boast 100,000-square-foot floor plates. The project will also feature 23,000 square feet of retail and restaurant space, presumably on the ground floor, along with a central courtyard, rooftop terraces, and a public waterfront esplanade. Norman Foster’s London-based Foster + Partners is designing. The site is located 12 blocks from the Smith-9th Streets stop on the F/G trains.

Office Portion of 20-Story 685 Fifth Avenue Getting 90-Key Boutique Hotel Conversion & Expansion, Midtown

10:00 am on May 25, 2016 By Reid Wilson

In April, news broke that Istanbul-based Gulaylar Group entered into contract to acquire the entire 90,000-square-foot office portion of the 20-story, 115,000-square-foot multi-use commercial building at 685 Fifth Avenue, on the corner of East 54th Street in Midtown. The deal includes the development rights to vertically expand the building by five stories. Those air rights were made available after property owners General Growth Properties and Thor Equities repositioned the building’s three stories of retail space, which now measures 23,400 square feet and is being made into Coach’s flagship store. Now, Gulaylar has disclosed plans to convert the office portion they are buying, along with the future expansion, into a 90-key boutique hotel, The Real Deal Reports. Five hotel chains, including Oetker Collection, AccorHotels, and LVMH’s Cheval Blanc, are currently in negotiations with the developer. The building’s remaining office tenant is moving out in August. Walter Marin’s Midtown-based Marin Architects is the architect of record for the expansion.

Retail Renovation Planned at Four-Story, 21,800-Square-Foot Commercial Building, 220 West 57th Street, Midtown

6:30 am on May 4, 2016 By Reid Wilson

Back in 2014, Thor Equities and General Growth Properties were in contract to acquire the four-story, 21,837-square-foot commercial-retail building at 220 West 57th Street, in Midtown. Now, the developers are expecting to close on the property – an individual landmark dubbed the Society House of the American Society of Civil Engineers – for $85 million in June, according to The Real Deal. Its existing tenant, Lee’s Art Shop, is in the process of moving out, probably in time for the sale, DNAinfo reports. The new owners plan to renovate the building into luxury retail space. Any exterior alterations to the building will have to be approved by the Landmarks Preservation Commission. The property comes with 104,160 square feet of air rights.

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