Theater District Retail Property Trades at 20% Discount

Thor Equities has sold the 8,300-square-foot retail property at 725 Eighth Avenue for $10.3 million — roughly $1,241 per square foot. The “property comes with a $16 million judgement against the real estate firm to recover the unpaid balance of the $11 million loan, plus interest.” Located between West 45th and 46th Streets, EFT Capital Servicing acquired the vacant 2-story building at a 20% discount from the $13 million, or $1,566 per square foot Thor paid in 2013.