Thor Equities Expands Its Uptown Portfolio with Another Multifamily Property
- May 19, 2016
New York—Thor Equities announced the purchase of a 40,000-square-foot property in Central Harlem for roughly $23.4 million. The building includes 39 two- and three-bedroom apartments and six commercial units with over 100 feet of retail frontage.
The seven-story prewar structure is located between Frederick Douglass Boulevard and St. Nicholas Avenue in Central Harlem, a district that thrives on the development activity along the 125th Street corridor. The building at 215 W. 116th St. is also close to Upper West Side and Morningside Heights, home to Columbia University which is undergoing a $7 billion, 17-acre campus expansion.
“215 W. 116th St. is ideally located in a thriving area of Upper Manhattan that is poised for additional residential and retail growth,” said Joseph Sitt, CEO of Thor Equities.
The rental apartment and retail building offers quick access to transport facilities, as it’s one block away from the 2/3 train, one block from the B/C train, a short drive to the Henry Hudson Parkway, and within walking distance to Morningside Park and Central Park.
This is Thor Equities’ fifth purchase in Harlem in the last 15 months after 526 W. 111th St., 17 W. 125th St., 98 Morningside Ave., and 556-566 W. 126th St.
Image courtesy of Thor Equities