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New York

Joe Sitt in contract to buy two Fifth Ave. buildings for $105M

562 Fifth Avenue and Joseph Sitt
562 Fifth Avenue and Joseph Sitt

Thor Equities’ Joseph Sitt is in contract to Buy Two Fifth Avenue buildings near the Diamond District for about $105 million.

The deal will add to Sitt’s Fifth Avenue portfolio a 12-story building at 562 Fifth Avenue that sits at the northwest corner of 46th Street, and a connected seven-story building at 564 Fifth Avenue that resembles a chalet.

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In total, the deal includes 120,000 square feet of office and retail space being marketed by CBRE Group’s Brian Gell on behalf of the seller, Bank Leumi, the New York Post reported. Neither Sitt nor Gell would comment to the newspaper.

Thor Equities owns a string of Properties Along Fifth Avenue, including 445, 590, 597 And 693 Fifth Avenue. In July, Sitt made an unsuccessful $2.1 billion bid for the Empire State Building, as The Real Deal reported. [NYP]  – Hiten Samtani

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CBREJoseph SittThor Equities