New York, April 14, 2021 – Thor Equities Group, a global leader in urban real estate development, leasing and management, announced it has leased 14,613 square feet at 25 West 39th St. in Manhattan to Phase One Network, Inc.
Phase One Network Inc., a premier music IP asset management company with over 100 labels, has signed a long-term deal for the entire 13th floor of the historic building owned by Thor Equities. Selected for the property’s excellent Midtown location, spacious layout, and wide range of amenities, the company plans to adapt their new space to a top-notch world renowned modern creative space with advanced technology.
Opened in 1907, 25 West 39th Street was built for the Engineering Societies’ Building with a $1.5 million gift from Andrew Carnegie. It featured a 1,000-seat auditorium and one of the largest engineering libraries in the world, with members including Thomas Edison and Nikola Tesla.
Additional tenants at 25 West 39th Street include Industrious, The Squash Center, Converge Direct, PVE and Movado.
“We are pleased to welcome Phase One Network to 25 W. 39thStreet and know they will benefit from an amenity rich neighborhood and high-quality space”, said Chief Operating Officer, Melissa Gliatta. “With a fully furnished rooftop and Bryant Park steps away, 25 W. 39th Street provides the outdoor space office tenants now require and is an ideal location for a variety of industries.”
ABOUT THOR EQUITIES GROUP:
Thor Equities is a leader in the development, leasing and management of office, industrial, laboratory, residential, hotel and mixed-use assets in premier urban locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 18 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.