The Real Deal New York

Taking the Fifth

Joe Sitt is buying up Fifth Avenue, but is he overpaying?
By Adam Piore | January 10, 2012 10:30AM

From the January issue: Joseph Sitt made his fortune thinking big — and not just in real estate. Back in the early 1990s, Sitt had trouble finding retail tenants for his urban properties. So he decided to open his own upscale apparel chain to serve the most promising urban retail sector he could find: plus-size women.

“I saw a big niche area,” he told an interviewer in 2003. “I mean, have you looked at the size of the butts of women in the inner city? They’re big.” [more]