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Thor buys retail condo at Flushing Commons

Flushing Commons retail space (Credit: Colliers)

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:

  1. 115 Mercer Street: $37 million note was sent into special servicing last year. 
  2. 1006 Madison Avenue: $17 million non-performing CMBS loan was put up for sale last summer. 
  3. 494 Broadway: U.S. Bank National Association filed a lawsuit against Thor three months ago to foreclose on the property.

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