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Real estate development in Morningside Heights

Apartment buildings at Riverside Dr. and 113th street

Apartment buildings at Riverside Dr. and 113th street in Morningside Heights, Tuesday, May 26, 2015. Photo Credit: Linda Rosier

The real estate development company Thor Residential is buying up buildings in Morningside Heights and Harlem.

In May, the Thor Equities branch entered a contract to buy its third structure in the area so far this year, a six-story building at 526 W. 111th St., which houses 44 residential units, for $30 million.

Alan Klein, Thor Residential co-head, told real estate blog The Real Deal that the purchase is part of "continuing the strategy" of investing in Morningside Heights and Harlem buildings, adding that 526 W. 111th St. will remain a rental building.

Thor Residential bought another property at 98 Morningside Ave., just across Morningside Park in Harlem, in March. The building includes 48 rental units and sold for $21.6 million.

It also acquired 17 West 125th Street in Harlem in February. The five-story building, which contains 50 residential rental units and eight retail spaces, sold for $30 million.


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