The Real Deal New York

Joe Sitt buys Downtown retail condos for $35.5M

Thor Equities picks up trio of ground floor and lower level spaces with roughly 5,500 square feet

July 07, 2014 12:05PM

From left: Joe Sitt, 120 Greenwich Street (Google Maps) and Blue Planet Grill

From left: Joe Sitt, 120 Greenwich Street (Google Maps) and Blue Planet Grill

Thor Equities CEO Joseph Sitt has scooped up three retail condominiums just south of the World Trade Center for a total of $35.5 million.

The spaces are located at 120 Greenwich Street at Albany Street and comprise 4,683 square feet of ground floor space and 863 feet on the lower level, the New York Post reported. The property includes 208 feet of frontage on three sides of the building. The current tenants include Blue Planet Grill and Koko Asian restaurant, both of which have buyouts in place, according to the Post.

The move marks a southward shift for Sitt. Last month, Thor led a partnership that paid $595 million for 530 Fifth Avenue. Sitt continued buying retail properties in Soho with the $6 million purchase of 452 West Broadway earlier this year. [NYP]Tom DiChristopher

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