Joseph Sitt and the Livingston Street complex
Joseph Sitt’s Thor Equities is selling a 600,000-square-foot mixed-use development site in Downtown Brooklyn. The block-through site, at 300 Livingston Street, is currently home to a five-story parking structure with ground-floor retail tenants. The property is being marketed by Massey Knakal Realty Services. [more]
From left: Paul Pariser of Taconic, a rendering of 837 Washington and Thor’s Joe Sitt
Taconic Investment Partners and Thor Equities announced today the start of construction of a 55,000-square-foot office and retail property at 837 Washington Street. Occupancy is expected for the fall of 2013. [more]
Joe Sitt and the Revere Sugar Refinery in Red Hook
Suddenly, outlet malls are all the rage in the outer boroughs. Thor Equities President Joe Sitt is considering bringing one to the former Revere Sugar Refinery on the Red Hook waterfront between the Ikea and Fairway stores, according to Crain’s. It follows reports yesterday that BFC Partners made a similar pitch for the parking lots near Richmond County Bank Ballpark in Staten Island and reports last month that the Lightstone Group was planning to bring outlets to the Whitestone Cinema site in Castle Hill. [more]
From left: Paul Pariser of Taconic Investment Partners, Joe Sitt of Thor Equities and a rendering of 837 Washington Street
The zoning approvals for the Meatpacking District development at 837 Washington Street have been signed off on by the city’s Department of Buildings, Curbed reported. The approval brings the 55,000-square-foot commercial building closer to rising up across from the Standard. [more]
From left: Arnold Goldstein of Samson, Joe Sitt of Thor and 129 West 29th Street (credit: PropertyShark)
Joseph Sitt’s Thor Equities is in contract to sell the 12-story, 85,869-square-foot office building at 129 West 29th Street for $54 million to Samson Management, a Queens real estate holdings company, the New York Observer reported. Arnold Goldstein, a principal at Samson, joked with the Observer, saying “so are you going to ask me why I overpaid for the property?” [more]
It’s become a cliche to say much of the deal making at the annual International Council of Shopping Centers’ retail bash RECon in Las Vegas takes place at the parties surrounding the convention, even if it’s true. To get a closer look, The Real Deal visited a handful of those gabfests. Click here to see the photos and more.
693 Fifth Avenue
In its ongoing effort to land a retail tenant for the former Takashimaya building on Fifth Avenue, Thor Equities is spending another $5 million to spruce up the six-floor space, Crain’s reported. The space has been on the market for 19 months, CoStar Group data shows.
The upgrade intends to convert 2,000 square feet of lobby space into retail space and brings the total six-floor retail square footage to 44,500. When complete in September, a three-story glass facade will also be added to the building. Once a retailer is signed on, Thor will spend millions more to build out the space. [more]
Thor Equities CEO Joseph Sitt and 446 West 14th Street (credit: PropertyShark)
Joseph Sitt’s Thor Equities is seeking $45 million for a Meatpacking District property it bought five years ago for about half that amount, Crain’s reported. Thor commissioned Jones Lang LaSalle to find a buyer for the three-story, 15,525-square-foot building, at 446 West 14th Street, between Washington Street and 10th Avenue, it bought for $23.4 million in 2007. [more]
From left: Thor CEO Joseph Sitt and 516-520 Fifth Avenue (credit: PropertyShark)
Joseph Sitt’s Thor Equities filed demolition plans yesterday for three adjacent properties on Fifth Avenue, according to city Department of Buildings records. Thor plans to redevelop the three buildings, located at 516, 518 and 520 Fifth Avenue between 43rd and 44th streets, into a 300,000-square-foot building, a spokesperson said. The plans call for building “an architecturally significant modern glass building,” according to a press release the firm sent to The Real Deal. [more]
From left: Eldorado Auto Skooters, at 1216-1218 Surf Avenue and Joseph Sitt of Thor Equities
Joseph Sitt’s Thor Equities has closed on the purchase of another set of parcels of land in Coney Island, Amusing the Zillion blog reported. The sale, for $4.5 million, included two buildings: the Eldorado Auto Skooters at 1216-1218 Surf Avenue, and the arcade at 1215 Bowery. The beloved bumper cars, also called the Eldorado Auto Skooters, may continue to operate for up to a year, according to other reports from ATZ. [more]
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