Thor Equities Buys Boerum Hill Props Over Ask

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The mixed-use property at 292-294 Atlantic Avenue (which includes the St. Clair Diner on the ground floor) recently sold well above the asking price to Thor Equities, the developer best known for its Coney Island holdings. Massey Knackal put the listing on the market in May for $4 million; it sold for $5,151,250 in December. The property was marketed as “three retail stores, two offices & four apartments.” The listing also noted that the corner retail space could be delivered vacant even though the New St. Clair Restaurant’s lease was good through 2017. (The eatery just got a big makeover in 2007.) According to Property Shark, there’s about 2,000 additional buildable square feet for the developer to play with. It doesn’t look like the development company owns any other sites nearby. We spoke with a worker at the diner (which is not closed) and he said he didn’t know what would be happening. A rep from Thor did not return a call about the sale.
Prime Boerum Hill Buildings on the Market [Brownstoner] GMAP

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