The Real Deal New York

Posts Tagged ‘thor equities’

  • Thor Caiola

    From left: Joseph Sitt, 250 West 19th Street in Chelsea and Jonathan Gray

    Joseph Sitt’s Thor Equities backed out of a “soft contract” to buy the Caiola family’s 25-building rental portfolio, the same properties which Blackstone Group is now in hard contract to buy for nearly $700 million, The Real Deal has learned. [more]

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  • Jonathan Gray and 250 West 19th Street in Chelsea

    Blackstone global head of real estate Jonathan Gray and 250 West 19th Street in Chelsea (Credit: PropertyShark)

    In one of its biggest New York City residential deals yet, the Blackstone Group is buying 25 Manhattan apartment buildings from the Caiola family for $700 million.

    The buildings include around 1,000 apartments and are clustered in Chelsea and on the Upper East Side. Blackstone’s minority partner on the deal is Fairstead Capital, Bloomberg reported, referring to an unnamed source. [more]

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  • 左图为Joseph Sitt, 右图为520号第五大道高楼效果图

    左图为Joseph Sitt, 右图为520号第五大道高楼效果图

    纽约最大的地产开发商Joseph SittThor  Equities将位于第五大道52号的一处中城开发地产卖给了Ceruzzi 地产和上海城投美国公司(SMI USA,售价$2.75亿,这处地产是该公司在2011年以$1.5亿买下。

    根据彭博社的报道,康州的地产开发公司Ceruzzi计划延续Sittz最初的开发计划开发71层住家、酒店和零售的高层建筑。这块地位于第五大道的43街和44街,大约有30万的平方尺的建筑面积,自从Sitt买下这块地产之后他拆除了两幢战前的大楼并且使土地空置。 [more]

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  • Joseph Sitt and a rendering of 520 Fifth Avenue (credit: Handel Architects)

    Joseph Sitt and a rendering of 520 Fifth Avenue in Midtown (credit: Handel Architects)

    Joseph Sitt’s Thor Equities sold a Midtown development site at 520 Fifth Avenue to Ceruzzi Properties and Shanghai’s SMI USA for $275 million, after purchasing it for $150 million in 2011.

    Ceruzzi, a Fairfield, Conn.-based real estate investor, plans to follow through with Sitt’s plans for a 71-story residential, hotel and retail tower on the site, according to Bloomberg. The plot, which has approximately 300,000 buildable square feet, sits between 43rd and 44th streets and has been vacant since Sitt demolished two prewar buildings that were there when he purchased the site. [more]

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  • Joseph Sitt and 129 Fifth Avenue in the Flatiron District

    Joseph Sitt and 129 Fifth Avenue in the Flatiron District

    In a move seemingly antithetical to its mission, link-shortening company Bitly is expanding to a new space at Thor Equities’ 139 Fifth Avenue in the Flatiron District.

    Bitly signed on for 11,000 square feet on the top two floors of the building. CBRE’s David Kleinhandler and Michael Politi represented them, while a Cushman & Wakefield team of John Fitzsimmons, Ethan Silverstein and Mark Mandell represented Thor Equities. [more]

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  • From left: Howard Michaels, Ira Zlotowitz and Joe Sitt

    From left: Howard Michaels, Ira Zlotowitz and Joe Sitt

    In September 2003, Harry Macklowe’s bid to buy the GM Building hit a roadblock: his lender, Wachovia Bank, was getting cold feet over the $1.4 billion price tag, and needed more time. With days to close on the purchase, Macklowe’s capital broker Rob Horowitz called his friend Eric Schwartz, head of U.S. real estate lending at Deutsche Bank. “I called Eric. He was playing golf in Ireland,” Horowitz later recalled. “I said, ‘Eric, do you want to come into this financing? I need a billion-four.’ And he said, ‘sure, we’ll do it.” Ten days later, the deal was done and Macklowe had his prize.  [more]

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  • 1058 Southern Boulevard, 50 Bond Street and Joseph Sitt

    From left: 1058 Southern Boulevard, 50 Bond Street and Joseph Sitt

    From Sharon Kahen’s $16.2 million buy at 132 East 112th Street to restaurateur Emilio Barletta’s $10.5 million sale of Dopo East, here is a look at how New York City’s investment sales market for properties between $10 million and $20 million fared this week.

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  • 562 Fifth Avenue

    Marc Holliday (Credit: Steve Friedman) and 562 Fifth Avenue

    SL Green Realty has placed its retail development site at 562 Fifth Avenue in Midtown on the market.

    The real estate investment trust has tasked Cushman & Wakefield with marketing the property, located at the corner of West 46th Street. The site currently houses a 13-story, 42,364-square-foot office and retail building. [more]

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  • From left: Joe Sitt and Michael Schurer

    From left: Joe Sitt and Michael Schurer

    The city’s top real estate-focused private equity investor is turning to a new source of capital for its projects: crowdfunding.

    Joseph Sitt’s Thor Equities, which bought $2.8 billion worth of New York City real estate last year, is working on launching a crowdfunding platform. [more]

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  • From left: Joseph Sitt (inset), the Row NYC Hotel at 700 Eighth Avenue, David Schechtman (inset) and Lipa Lieberman (inset)

    From left: The Row NYC Hotel at 700 Eighth Avenue (inset: Joseph Sitt, David Schechtman and Lipa Lieberman)

    Thor Equities’ retail condominium unit at the Row NYC Hotel in Midtown is on the market. [more]

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  • Joseph Sitt

    Joseph Sitt

    Joseph Sitt, founder and CEO of Thor Equities, said global conflict and instability have made Western Europe and the United States more attractive to real estate investors. “Will the Middle East conflict spread beyond the five countries fighting today?” Sitt asked during a Monday appearance on Fox Business’ “Risk and Reward with Deirdre Bolton.” See the video after the jump.

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  • 217 West 57th Street

    Rendering of the Nordstrom Tower at 217 West 57th Street (credit: Adrian Smith + Gordon Gill)

    Renderings for Extell Development’s proposed supertall residential tower at 217 West 57th Street, known as the Nordstrom Tower have been released. [more]

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  • Wynwood site, David Edelstein and Joseph Sitt

    2801 Northwest 3rd Avenue in Wynwood, David Edelstein, above, and Joseph Sitt, below.

    From the South Florida website: New York-based Thor Equities has signed a contract to pay $29 million for nearly a square city block in Miami’s hot Wynwood neighborhood, The Real Deal has learned. [more]

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  • AndrewHeibergerJoeSittJamesCorcoran

    From left: Andrew Heiberger, Joseph Sitt and James Corcoran

    James Corcoran, Town Residential’s controller, left the company after less than a year on the job.

    Corcoran gave notice several weeks ago and his last day was Wednesday, sources said. [more]

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  • 212 Fifth Avenue

    From left: Joseph Sitt, 212 Fifth Avenue in NoMad and Robert Gladstone

    The Landmarks Preservation Commission has approved the residential conversion of 212 Fifth Avenue.

    The commission on Tuesday approved proposed changes to the 24-story, 220,000-square-foot office building, which will be redeveloped by Thor Equities, Madison Equities and Building & Lang Technology (BLT). [more]

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  • Sitt 180 Bedford

    Left to right: Thor’s Joe Sitt and 176-180 Bedford Avenue

    UPDATED, 6:10 p.m., April 17: Joseph Sitt’s Thor Equities is in contract to buy a Williamsburg development site for $36.1 million, The Real Deal has learned. The parcel at 180 Bedford Avenue allows for a total of 7,200 buildable square feet, plus another 7,200 square feet of roof and basement space. (Note: Correction appended) [more]

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  • Joseph Sitt, 220 West 57th Street and Sandeep Mathrani

    From left: Joseph Sitt, 220 West 57th Street and Sandeep Mathrani

    Joseph Safdieh’s Safka Holdings is suing Joseph Sitt’s Thor Equities and General Growth Properties, claiming he was bilked out of purchasing a prime piece of real estate on West 57th Street. Safka is asking the court to terminate Thor’s contract and is looking to get back into the deal. [more]

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  • 55 NE 39th St., and 56 NE 40th St., Miami and Lyle Chariff

    55 Northeast 39th Street and 56 Northeast 40th Street, Miami and Lyle Chariff, president of Chariff Realty Group

    From the South Florida site: New York-based Thor Equities has bought two more properties in Miami’s Design District, as it expands its sizable retail portfolio in the neighborhood, The Real Deal has learned. [more]

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  • Rubin Schron and 30 Park Avenue

    Rubin Schron and 30 Park Avenue in Murray Hill

    UPDATED, 6:11 p.m., March 18: Rubin Schron’s Cammeby’s International has taken a majority stake in 30 Park Avenue, which closed yesterday for $194 million. Joseph Sitt’s Thor Equities Residential went into contract to buy the 241-unit Murray Hill building in December, as The Real Deal first reported, and still holds a stake in the property, according to a source familiar with the company. [more]

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  • From left: Alan Klein, Joseph Sitt, 98 Morningside Avenue and Steven Vegh

    From left: Alan Klein, Joseph Sitt, 98 Morningside Avenue and Steven Vegh

    Joseph Sitt’s Thor Equities Residential just closed on 98 Morningside Avenue, a 48-unit rental building on the corner of West 123rd Street. Thor paid $21.6 million, or about $328 per square foot, for the 65,800-square-foot, seven-story property. [more]

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