Thor Equities + United American Land have acquired a retail condo at 38-18 Union Street in Flushing from F&T Group + AECOM Capital + the Rockefeller Group for $42 million, CO reported. The 300,000-square-foot space is part of the 1.8-million-square-foot Flushing Commons megaproject.
- Tenants include: Atelier Fashion, Metro City Bank, and Chinese hot-pot chain HaiDiLao.
Tough stretch for Thor’s retail:
- 115 Mercer Street: $37 million note was sent into special servicing last year.
- 1006 Madison Avenue: $17 million non-performing CMBS loan was put up for sale last summer.
- 494 Broadway: U.S. Bank National Association filed a lawsuit against Thor three months ago to foreclose on the property.