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Thor buys Flatiron property from nonprofit

Office building at 164 Fifth Avenue closed for $23M

Joseph Sitt and 164 Fifth Avenue
Joseph Sitt and 164 Fifth Avenue

Thor Equities acquired a 19,000-square-foot Flatiron District office building for $23 million.

Design nonprofit AIGA owned and currently occupies the site at 164 Fifth Avenue, near 22nd Street. The four-story property will be delivered vacant. The development firm led by Joseph Sitt made a string of recent buys along Fifth Avenue, including 530 Fifth Avenue for $595 million and 685 Fifth Avenue for $475 million.

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Thor partnered with  General Growth Properties and RXR Realty in the acquisition of 530 Fifth Avenue, as previously reported. [NYO] — Mark Maurer

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Flatiron DistrictJoseph SittThor Equities