Thor Makes $277M Bet On Madison Ave. Rebound

Law360, New York (January 2, 2013, 6:38 PM EST) -- Thor Equities LLC has purchased a block-long retail space on New York City's Madison Avenue — a tough market since the downturn — from Extell Development Co. for a reported $277 million, making it potentially one of the street's priciest retail transactions ever.

The space is on the ground floor of what was formerly the Helmsley Carlton House Hotel on the corner of Madison Avenue and 61st Street, which Extell and partner Angelo Gordon & Co. plan to convert into a luxury condominium.

A spokesman for...
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