JV Picks Up 875 Washington Street for $96.5M

NEW YORK—Thor Equities and ASB Real Estate Investments’ Allegiance Real Estate Fund have purchased 875 Washington Street in Manhattan’s Meatpacking District from Scoop NYC for $96.5 million. The transaction marks Thor Equities’ second acquisition on the same block in the last three months.

Comprised of 60,000 sq. ft. of space, 875 Washington Street stands five stories tall and occupies the entire block of Washington Street between 13th and 14th Streets.

Robert Bellinger, president and CEO of ASB Real Estate Investments, said, “The Meatpacking District has experienced a massive transformation over the last 10 years, becoming a top destination for culture, art, high-end residential, entertainment, business and hotel development. This investment fits with ASB’s strategy to acquire competitively positioned office and high-street retail properties with high NOI growth potential and strong demographic underpinnings.”

Current tenants at the property include Bond No. 9, Paige Premium Denis and SCOOP, among others.

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