Sutton, Sitt buy out partner at 560 Broadway

January 30, 2013 12:30PM

Wharton Properties President Jeff Sutton and Thor head Joseph Sitt are linking up to buy out a minority stake in 560 Broadway, a prime Soho commercial building on the corner of Prince Street.

According to the New York Post, Sitt was introduced to the partner controlling the stake by Newmark Grubb Knight Frank CEO Barry Gosin, and Sitt brought in Sutton to nail down the deal quickly. According to public records, the building last traded in 2007 but there was no price on the deed.

The six-story office and retail building’s street-level tenants are currently Converse and Dean & DeLuca. Sutton already controls 529 Broadway at the corner of Spring Street, where together with Sitt, Aurora Capital and the Adjmi family a new retail building is being developed. Sutton also owns 599 Broadway at the corner of Houston Street, where American Eagle is currently the ground floor tenant. [NYP, 2nd item] –Christopher Cameron