Joseph Sitt | The Real Deal New York

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Joseph Sitt

CEO
Thor Equities
25 West 39th Street
New York, NY 10018
212 529 5055
Website
Joseph Sitt
Joseph Sitt is the CEO of Thor Equities, the privately held development and ownership firm he founded in 1986. He is one of the more active developers in New York City. Sitt is perhaps best-known for his long-term redevelopment of much of the Coney Island, Brooklyn, waterfront (he grew up nearby). That effort started in 2001, when Sitt began buying up more than 10 acres, much of it rundown, with the idea of rebuilding it as a Vegas-style resort complete with new condos, hotels and a water park. The Bloomberg administration, however, opposed the rezoning for Sitts plans; and he sold most of his Coney Island holdings in late 2009. Sitt owns several other properties in Brooklyn, including the Livingston Shoppes mall, and in Manhattan, where he developed the 457-unit Greenwich Club condo building in the Financial District. Sitt, who was born in 1964, got his business start with the Ashley Stewart clothing chain, which he sold in 2000.
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Town Residential, Representative, Licensed Associate Real Estate Broker
239 East 79th Street, New York, NY, (646) 532-4940
...
Town Residential, Sales and Leasing Manager
530 LaGuardia Place, New York, NY, (646) 738-6931
...
Town Residential, Representative, Licensed Real Estate Salesperson
730 Fifth Avenue, New York, NY, (212) 242-9900
...
Town Residential, Project Manager, New Development
33 Irving Place, New York, NY, (646) 790-2620
...
Town Residential, Representative, Licensed Real Estate Salesperson
337 West Broadway, New York, NY, (646) 518-2655
...
Town Residential, Representative, Licensed Real Estate Salesperson
730 Fifth Avenue, New York, NY, (646) 790-5005
...
Town Residential, Representative, Licensed Real Estate Salesperson
239 East 79th Street, New York, NY, (646) 532-4911
...
Town Residential, Sales Coordinator
33 Irving Place, New York, NY, (646) 790-5054
...
Town Residential, Accounts Payable Clerk
33 Irving Place, New York, NY, (646) 738-7480
...
Town Residential, Representative, Licensed Real Estate Salesperson
110 Fifth Avenue, New York, NY, (646) 998-7429
...
Town Residential, Representative, Licensed Real Estate Salesperson
446 West 14th Street, New York, NY, (646) 790-2631
...
Town Residential, Representative, Licensed Real Estate Salesperson
730 Fifth Avenue, New York, NY, (646) 300-6053
...
Town Residential, Representative, Licensed Real Estate Salesperson
337 West Broadway, New York, NY, (646) 561-5305
...
Town Residential, Representative, Licensed Real Estate Salesperson
239 East 79th Street, New York, NY, (646) 588-4064
...
Town Residential, Representative, Licensed Real Estate Salesperson
446 West 14th Street, New York, NY, (646) 790-5074
...
Town Residential, Representative, Licensed Associate Real Estate Broker
88 Greenwich Street, New York, NY, (646) 998-7432
...
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110 Fifth Avenue, New York, NY, (646) 998-7439
...
Town Residential, TOWN Attache
337 West Broadway, New York, NY, (212) 924-4201
...
Town Residential
33 Irving Place, New York, NY, (646) 998-7498
...
Town Residential, Project Director
33 Irving Place, New York, NY, (646) 738-7624
...
Town Residential, Representative, Licensed Associate Real Estate Broker
110 Fifth Avenue, New York, NY, (646) 518-2629
...
Town Residential, Representative, Licensed Associate Real Estate Broker
88 Greenwich Street, New York, NY, (646) 588-4318
...
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26 Astor Place, New York, NY, (646) 561-5324
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239 East 79th Street, New York, NY, (646) 532-4919
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239 East 79th Street, New York, NY, (646) 998-7492
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  • Event Sales
  • Address 680 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 35,000
  • Price $ 277,000,000
notes
The corner retail space sold for $277 million, the Wall Street Journal reported. Vornado Realty Trust had offered to pay $280 million for the space, but negotiations fell apart, allowing Joseph Sitt to step in and purchase the property, according to the paper.
  • Event Sales
  • Address 118 East 4th Street
  • Neighborhood East Village
  • Borough Manhattan
  • Price $ 11,500,000
  • Price per foot $ 442.00
  • Publication Date 01/01/2011
  • Event Date 11/22/2010
  • Party 1 Bruce Miltenberg, Bread & Butter Realty LLC
  • Party 1 Brokerage Massey Knakal Realty Services
  • Party 1 Broker John Ciraulo, Joseph Sitt, Craig Waggner
notes
The properties sold for $11.5 million, or $442 per square foot. The buildings contain 24 one-bedrooms and 45 studios. Forty of the apartments are rent stabilized, and 29 are free market. Includes 120-22 East 4th Street.
  • Event Sales
  • Address 690 Castleton Avenue
  • Neighborhood #VALUE!
  • Borough Manhattan
  • Square feet 19,716
  • Price $ 1,200,000
  • Price per foot $ 61.00
notes
The elevator building sold for $1.2 million, or $61 per square foot. The price represents a capitalization rate of 15.49 percent and a gross rent multiple of 3.5. The property contains two floors of medical office space, 14 parking spaces and two floors of residential space, which comprise 14 apartments that rent for below-market rates.
  • Event Sales
  • Building Name 530-536 Broadway
  • Address 536 Broadway
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 190,000
  • Price $ 190,000,000
  • Price per foot $ 1,000.00
notes
The two connected properties sold for $190 million, or $1,000 per square foot.
  • Event Sales
  • Address 91 Avenue D
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 2,982
  • Price $ 1,320,000
  • Publication Date 04/01/2010
  • Event Date 02/20/2010
  • Party 1 Brokerage Massey Knakal Realty Services
  • Party 1 Broker Michael DeCheser, Joseph Sitt
notes
The property sold for $1.32 million. The property has a store on the ground floor and two residential units above. The apartments are vacant, while the retail lease expires in June 2011.
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530 Fifth Avenue is a 26-story, 500,000-square-foot retail and office tower acquired in...
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562-564 Fifth Avenue are two adjacent buildings owned by Thor Equities, a privately...
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