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New York

Sitt’s Thor pays $45M for retail condo in Soho

High-end mosaic tile company Sicis is selling the 19,000-square-foot space at 470 Broome St

From left: Joe Sitt and 470 Broome Street, Soho
From left: Joe Sitt and 470 Broome Street, Soho

Joe Sitt’s Thor Equities has bought the bottom floors of 470 Broome Street for $45 million.

The retail space is 19,000 square feet and includes two cellars and the ground, second and third floors, according to the New York Post. The commercial condominium was occupied and owned by mosaic tile company Sicis, the newspaper reported. The rest of the building has residential units.

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In turn, Sicis is in contract to buy a 50,000-square-foot factory at 150 Bruckner Boulevard in the Bronx, which the company already rents, for $14 million.

Thor already owns 20 properties in the neighborhood and is reportedly looking for a high-end tenant to occupy the duplex on the corner of Soho’s Greene Street. [NYP, 1st] — Claire Moses

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Joseph SittThor Equities