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Thor Equities to buy ESRT’s 1359 Broadway office for $218M

The 22-story, 486,000-square-foot building was 95 percent occupied as of last month after recent leases with Infinium Wall Systems, SLCE Architects and nonprofit Braven.

Reported · Written up by our desk · Commercial

Empire State Realty Trust, or ESRT, has agreed to sell its 1359 Broadway office building to Thor Equities for $218 million, Commercial Observer reported, citing sources.

The property is a 22-story tower with 486,000 square feet, and it was 95 percent occupied as of last month. Commercial Observer also noted recent leasing activity with Infinium Wall Systems, SLCE Architects and nonprofit Braven, along with retail tenants Wolfgang’s Steakhouse and Wokuni.

Commercial Observer said the deal is expected to close within the next month or two, though it is not final or official yet. The outlet added that ESRT and Thor did not respond to requests for comment, and the earlier listing price had been $225 million this summer.

Thor Equities’ Midtown office buying activity includes a separate purchase earlier this year, Commercial Observer reported. In March, the outlet said Thor acquired the 1165 Broadway office and retail building, a 58,000-square-foot property, for $56 million.

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