Tuesday, January 29, 2008

Thor Watch

In addition to their holdings in Coney Island, Thor Equities has their fingers in a lot of properties throughout the city (and country, for that matter). The Brooklyn Daily Eagle reports on a recent Thor acquisition in Bay Ridge:

The lot at 1752 Shore PKWY in Bay Ridge was recently purchased for $10 million by Thor Shore Parkway Developers, LLC., reports Property Shark. The industrial location, a bus lot, is huge, at 10,400 square feet. However, it is a prime spot near Drier Offerman Park, which is getting a $50 million makeover, and the Ceasar's Bay shopping strip, which is home to Best Bay, Kohls, Toys R Us and Modells. It's also close to Coney Island. Bonnie Heights Realty Corp. sold the property to Thor Shore Parkway Developers, LC.

Calls to Thor about their intentions with the property were unanswered as of press time.

There has been a lot of speculation on the Coney Island USA message board that Thor's ultimate goal is to build a big-box retail store on the lot (which is currently only zoned for heavy industry). This would certainly be in line with Thor's general strategy of buying up large pieces of land, then sitting on them until they are rezoned for more profitable usages.

Real Estate Round-Up: January 28, 2008 [Brooklyn Daily Eagle
Thor's shore parkway lot? [Coney Island USA Message Board]

- post by Ben Nadler

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