December 7, 2020
Thor Equities Group has sold 164 Fifth Ave., located along the Flatiron retail corridor between 21st and 22nd streets, for $40 million. The identity of the buyer, reportedly a high-net-worth investor, isn’t known.
Currently fully leased to Alo Yoga for 15 years, with the lease term expiring in 2034, 164 Fifth offers six levels of retail space. The Los-Angeles-based lifestyle brand, which has occupied the space since 2017, recently announced the arrival of Sutra, a new restaurant also at 164 Fifth Ave. with celebrity chef Matthew Kenney.
Joe Sitt, chairman of Thor Equities, said, “164 Fifth Ave. has been the longtime home to world-renowned retail brands that benefit from premier Fifth Avenue visibility. We are pleased to announce this successful sale of one of our well-known Fifth Avenue landmark assets.”
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