Revised renderings revealed for Thor’s 520 Fifth Avenue

New York /
Feb.February 11, 2014 04:53 PM

Thor Equities has unveiled renderings for its planned Midtown mixed-use project at 520 Fifth Avenue — a slight departure from earlier designs.

The 39-story glass building will feature 77,000 square feet of retail space at the base of the tower and a combination condominium and hotel up top. No building permits have been filed for the tower, but Town Residential broker Paul Macapagal’s personal website says that there will be 96 condominium residences in total at the property according to a report from New York Yimby.

The two structures that once sat on the site have been completely demolished, and permits for the commercial podium at the structure’s base have been approved.

Joseph Sitt’s Thor Equities purchased 520 Fifth Avenue as part of a trio of properties in December of 2011, with plans to demolish the existing structures and build a new $250 million mixed-use complex. He bought the properties from developer Aby Rosen and Tahl-Propp Equities, who went into partnership in 2007 and later defaulted on an $80 million loan. [Curbed] and [New York YIMBY]Julie Strickland


Related Articles

arrow_forward_ios
79 Clifton Place, 80-01 37th Avenue, 45 East Mosholu Parkway North (LoopNet, Google Maps)
Residential dealmakers storm city’s investment sales market
Residential dealmakers storm city’s investment sales market
Thor facing pre-foreclosure suit at 470 Broadway, sale of 115 Mercer
Thor facing pre-foreclosure suit at 470 Broadway, sale of 115 Mercer
Thor facing pre-foreclosure suit at 470 Broadway, sale of 115 Mercer
Thor Equities' Joe Sitt and 24 West 40th Street (Rudder Property Group)
Thor Equities sells Bryant Park office condo to Chinese firm for $11M
Thor Equities sells Bryant Park office condo to Chinese firm for $11M
Powerful New York real estate firms and families, including Douglas Durst and Bill Rudin, have donated money to Eric Adams (Getty / Photo Illustration by The Real Deal)
Eric Adams’ cup runneth over with real estate cash
Eric Adams’ cup runneth over with real estate cash
Thor Equities’ Joe Sitt and 933 Broadway (Thor)
Thor Equities can keep $1.2M deposit on failed 933 Broadway sale: judge
Thor Equities can keep $1.2M deposit on failed 933 Broadway sale: judge
470 Broadway and Thor Equities' Joe Sitt (Thor Equities)
Valuation of Thor Equities’ 470 Broadway slashed
Valuation of Thor Equities’ 470 Broadway slashed
Thor Equities Group Chairman Joseph J. Sitt. (Thor)
Thor facing foreclosure on Harlem rental building
Thor facing foreclosure on Harlem rental building
Jeff Bezos of Amazon, Joe Sitt of Thor Equities and an aerial of the Red Hook site. (Getty, Thor, Google Maps)
Thor Equities nabs financing for Amazon warehouse in Red Hook
Thor Equities nabs financing for Amazon warehouse in Red Hook
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...