Thor Equities Group has expanded its New York City holdings with the acquisition of a Midtown office tower for $217.5 million. The global real estate investment firm closed on 1359 Broadway, a 22-story property in the Garment District. The seller was Empire State Realty Trust. The building totals 486,000 square feet of office space and is positioned at the intersection of Broadway and West 36th Street in Manhattan.
Originally completed in 1924, 1359 Broadway combines prewar architecture with more contemporary improvements. The building has undergone upgrades that include a new lobby, where the property’s original ceiling has been restored as part of the modernization program. The asset is described as having a diverse tenant mix, illustrating demand from a variety of office users in this Midtown location.
Current occupants at the property include Bloomsbury Publishing, an independent publishing company, and Progyny, a fertility benefits provider. Their presence underscores the building’s appeal to both creative and corporate tenants. The mix of publishing and healthcare-related office users reflects broader diversification trends within Manhattan’s tenant base, particularly in centrally located submarkets such as the Garment District.
In connection with the transaction, Thor has tapped Newmark as the exclusive leasing agent for 1359 Broadway. The leasing assignment positions Newmark to handle future tenant roll, renewals, and new leasing activity at the building. While specific lease terms, rental rates, and occupancy metrics were not disclosed, the appointment of a dedicated leasing team signals continued asset-level activity following the change of ownership.
Thor’s leadership framed the acquisition as consistent with the firm’s long-standing focus on New York City. In a statement, Melissa Gliatta, Thor’s Global COO, emphasized that New York City remains central to the company’s investment strategy and expressed confidence in the long-term strength of the Manhattan office market. She characterized 1359 Broadway as a significant addition to Thor’s portfolio and noted the firm’s intent to build on the property’s established position in Midtown.
The deal also follows Thor’s earlier expansion in Manhattan this year. In March, the firm acquired 1165 Broadway in the NoMad neighborhood for $56 million. That property is a fully occupied, 58,000-square-foot office and retail building. Taken together, the 1359 Broadway and 1165 Broadway transactions highlight Thor’s continued deployment of capital into New York City office assets, particularly in central, transit-accessible neighborhoods with established tenant rosters.
No additional financial details, such as cap rates, financing terms, or planned capital improvements, were disclosed for the 1359 Broadway acquisition. However, the combination of a large prewar Midtown tower, recent lobby enhancements, and established tenancy provides context for the scale and profile of the asset now under Thor’s ownership.
