The Real Deal New York

Posts Tagged ‘joe sitt’

  • sitt-683-fifth-mathrani

    From left: Joe Sitt, 685 Fifth Avenue (Photo credit: Google) and Sandeep Mathrani

    Thor Equities is partnering with the mall real estate investment trust General Growth Properties to buy the office and retail building 685 Fifth Avenue from retailer Gucci for more than $475 million, sources told The Real Deal. [more]

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  • Sitt-220-W-57

    Joe Sitt and 218-220 West 57th Street (Photo credit: PropertyShark)

    The retail-focused Midtown investment firm Thor Equities is in contract to buy a four-story retail building across the street from Extell Development’s 1,550-foot tall skyscraper that is set to be home to the city’s first Nordstom on a rapidly transforming stretch of 57th Street. [more]

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  • 335-Canal-Microsoft

    335 Canal Street, also known as 11 Greene Street (Photo credit: Microsoft)

    Jack Joseph Sitt, son of Thor Equities CEO Joe Sitt, partnered with the Canadian company Ruby Ventures to purchase a commercial ground lease at 335 Canal Street out of bankruptcy for $13.5 million. [more]

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  • Joseph Sitt, co-founder and chairman of Town Residential and Founder and CEO of Thor Equities

    Joe Sitt, co-founder and chairman of Town Residential, founder and CEO of Thor Equities

    A tale of two cities is driving a booming retail, residential and office market, Joe Sitt, founder and CEO of Thor Equities, said on CNBC Tuesday. Click here to see the video.

    4 Comments
  • Sitt-Park

    Joe Sitt and 38 Park Row

    UPDATED: 7:30 a.m., April 5: Joe Sitt’s Thor Equities purchased a retail cooperative unit at 38 Park Row with frontage on Beekman and Nassau streets, across the street from City Hall Park in Lower Manhattan, the company told The Real Deal. Sources said the sale price was $11.08 million. [more]

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  • Thor-UWS

    From left: Steven Vegh, 125 Riverside Drive, 120 Riverside Drive, Joe Sitt and Sonny Kalsi

    The Midtown-based landlord and development firm Thor Equities – along with joint venture partner GreenOak Real Estate — closed on the purchase of two Upper West Side rental buildings for $85 million from long-term owners yesterday. The acquisition was the first residential purchase for Thor since launching an apartment ownership and development division in October. [more]

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  • Heiberger on the future of Town

    March 05, 2014 08:27PM
    Andrew Heiberger

    Andrew Heiberger

    Last night, Town Residential’s owners, Andrew Heiberger and Joseph Sitt, finally reached a settlement, bringing an end to their messy public legal battle over control of the firm.

    Today, The Real Deal talked to Heiberger about how the company, which has lost several top agents since the dispute erupted, will move forward and begin repairing the Town brand. [more]

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  • From left: Andrew Heiberger and Joe Sitt

    From left: Andrew Heiberger and Joe Sitt

    From the March issue: While the leading residential brokerages like Douglas Elliman and the Corcoran Group held low-key holiday parties in 2013, three-year-old firm Town Residential went all out with a glitzy 800-person bash at the sleek new Meatpacking District restaurant Tao Downtown, where guests helped themselves to an open bar and passed hors d’oeuvres. [more]

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  • Joe Sitt

    Joe Sitt

    The New York market is fetching record prices and inventory is hitting an all-time low, Joe Sitt said on Bloomberg’s Street Smart Tuesday. Click here to see the video.

    3 Comments
  • From left: Andrew Heiberger and Joseph Sitt

    From left: Andrew Heiberger and Joseph Sitt

    Town Residential founder Andrew Heiberger has filed suit against the firm’s equity partner Joseph Sitt of Thor Equities, following Heiberger’s ousting as CEO by Sitt earlier this week, according to a legal complaint obtained by The Real Deal. 

    Heiberger has asked that a judge issue an injunction preventing Thor from removing him from the brokerage’s board of managers. He also has requested that his dismissal as Town CEO be declared invalid. In addition, Heiberger is seeking at least $60 million in damages. [more]

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  • 1231-third

    1231 Third Avenue and Thor’s Melissa Gliatta

    Joe Sitt’s commercial real estate firm Thor Equities paid $52.5 million for a four-story, 33,300-square-foot building that has housed family-run food merchant Grace’s Marketplace for 30 years, according to property records filed with the city today.

    Upper East Side landlord Allen Realty Company sold the mixed-use property at 1231-1237 Third Avenue at 71st Street. [more]

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  • khodadian

    From left: Robert Khodadadian, 711 Madison Avenue and Adelaide Polsinelli

    Former Eastern Consolidated broker Robert Khodadadian, who was fired for allegedly sending a lewd video to a female intern, has beefed up his claims against his ex-employer, contending that the brokerage stiffed him on commissions for sales worth $80 million. [more]

    15 Comments
  • Rafael Nadal

    Rafael Nadal

    From the October issue: New York City’s real estate elite rubbed shoulders with the tennis elite at the U.S. Open men’s finals last month. On hand to watch Rafael Nadal beat Novak Djokovic were top retail investor Jeff Sutton, Thor Equities’ Joseph Sitt, developer Joseph Moinian and son Matthew, SL Green Realty CEO Marc Holliday, and real estate power lawyer Jonathan Mechanic. [more]

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  • Sutton pays Sitt $327M for 530 Broadway

    September 18, 2013 10:19AM
    Jeff Sutton, 530 Broadway and Joseph Sitt

    Jeff Sutton, 530 Broadway and Joseph Sitt

    Retail mogul Jeff Sutton is in contract to buy a three-building site at 530 Broadway from frequent collaborator Joseph Sitt for $327 million, extending his dominance in Soho. [more]

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  • Thor ups bid for Empire State Building

    September 09, 2013 08:28PM
    Empire-State-BuildingJoeSitt

    The Empire State Building, Joe Sitt

    UPDATED, Sep. 10, 9:00 a.m.: Three days after Malkin Holdings informed investors that they would continue with a planned initial public offering of the Empire State Building and other properties, Thor Equities increased its bid for the fee interest in the Art Deco tower to $1.4 billion. [more]

    6 Comments
  • From left: The Zipper and owner Eddie Miranda

    From left: The Zipper and owner Eddie Miranda

    The Zipper, a carnival ride one that once operated in Brooklyn’s Coney Island, was constructed with the bars just wide enough apart so that patrons’ change would fall out, and the (often poor) carnival workers could collect it, like a tip. The so-called “carnies” said this arrangement worked well: they collected the spare change and Metrocards that regularly fell from the Zipper. See the trailer after the jump. … [more]

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  • Empire-State-BuildingJoeSitt

    The Empire State Building, Joe Sitt (Sitt photo courtesy the Brooklyn Paper)

    Retail-focused real estate investor Joseph Sitt, CEO of Midtown-based Thor Equities, has become the latest bidder for the Empire State Building, topping an earlier offer of $2.1 billion, his representative Jason Meister, a broker and vice president at commercial firm Avison Young, told The Real Deal. [more]

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  • alternate<br /></a>text
    From left: 650 Madison Avenue and Joe Sitt

    Does the $1.3 billion sale of 650 Madison Avenue, which entered contract last week, herald a commercial real estate bubble? Not quite, Thor Equities CEO Joseph Sitt told Bloomberg News. Its buyers, Crown Acquisitions and Highgate Holdings, see value in the property’s retail component, he said. See the video and more after the jump.

    2 Comments
  • A rendering of The Landing, part of Disney’s new Disney Springs development

    From the South Florida site: Disney Co. has selected Thor High Street Advisors as its exclusive broker for the company’s new Disney Springs project outside Orlando, The Real Deal confirmed. [more]

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  • Joe Sitt of Thor Equities

    Joe Sitt’s Thor Equities closed late last week on a residential and retail portfolio adjacent to the Barclays Center in Brooklyn for $23 million in an off-market transaction, The Real Deal has learned.

    The mixed-use development, known as Atlantic Gardens, consists of 24 rental units and nine retail shops along Atlantic between Third and Fourth avenues, seller Bennat Berger of BCB Properties told TRD. BCB and Arik Lifshitz of DSA Management had purchased the assets, 525-541 Atlantic Avenue, for $10.93 million just two years before, according to city records, but Berger said the actual price was closer to $11.25 million. [more]

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