NEW YORK CITY—Thor Equities has added 685 Fifth Ave. to its luxury retail portfolio. Located on the corner of Fifth avenue and 54th streets, the building offers 134,215 total square feet of luxury retail and office space spread out over four floors of retail space and 19 floors of office space.
Several details were unclear, including the purchase price, the identity of the seller and that of any brokers on the deal. Spokespersons for Thor did not respond to several requests for comment by press time.
The building's neighbors include high-end retailers Louis Vuitton, Fendi, Henri Bendel, Tiffany & Co., Manolo Blahnik, and De Beers. Fifth Avenue invariably ranks amongst the most expensive streets in the world and one of the most trafficked streets in the country.
“Fifth Avenue's reputation of exclusivity and affluence persists as top global brands continue to seek out locations for dominant, state-of-the-art luxury retail stores,” says Melissa Gliatta, EVP of Thor Equities, in a prepared statement.
The storefront offers exposure on both 54th street and 5th avenue, according to Thor, providing 185 feet of combined, direct retail frontage. 685 5th Ave. provides the opportunity for distinguished retailers to make their mark in one of the most influential luxury retail markets in the world.
“Fifth Avenue is iconic,” Gliatta continues. “There is no better place to see and be seen. For luxury retailers, this stage offers the opportunity to access and service affluent, chic clientele hailing from diverse parts of the world.”
Thor is among the largest landlords on Fifth avenue, with holdings spanning from building number 139 to 693 Fifth Ave.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
