Thor Equities borrows $75.4M from Apollo for Amazon-leased property in Red Hook

Thor Equities through the entity 280 Richards Street LLC as borrower signed a loan agreement with lender Apollo’s Athene Annuity And Life Company valued at $75.4 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 280 Richards Street in Red Hook. The deal closed on January 29, 2021 and was recorded on February 23, 2021. The Commercial Observer reported it as a $155 million equity recapitalization of the property that has been leased to Amazon.

The last time the property sold was August 11, 2005 for $40,520,000.
Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $15,000.

There have been 2 new building permit applications

Direct link to Acris document. link