Sitt revealed as mystery buyer behind BK’s priciest home sale of 2016

Thor Equities CEO laid out $11.6M for Gravesend home

TRD New York /
Feb.February 23, 2017 09:00 AM

Joseph Sitt and 1993 East Fifth Street in Gravesend, Brooklyn

Thor Equities CEO Joseph Sitt is the mystery buyer behind Brooklyn’s priciest home sale last year.

The retail real estate mogul paid $11.6 million to buy a fairly plain looking two-story home in the Syrian Jewish enclave of Gravesend, Brooklyn, the New York Post reported.

Built in 1925, the 5,000-square-foot home at 1993 East Fifth Street is within walking distance of the neighborhood’s synagogues, which helped push up the value.

Sitt already owns a home in the neighborhood, and the recent purchase was for tax purposes, according to the Post.

Sitt declined to comment to the newspaper.

Meanwhile, Thor TRData LogoTINY is looking to sell a pair of Uptown Manhattan rental properties the company bought in 2014 as it pushed into the multifamily space for a combined $90 million. [NYP] – Rich Bockmann

Related Articles

Clockwise from left: 270 Richards Street in Brooklyn, 72-01 Queens Boulevard in Queens, and 2069 Bruckner Boulevard in the Bronx (Credit: Thor Equities, EDI International, and Azimuth)

The top 10 biggest real estate projects coming to NYC

Joe Sitt and 1725 Shore Parkway in Bensonhurst (Credit: Google Maps)

Thor sells Bensonhurst big-box store for $75M

545 Madison Avenue and Thor Equities CEO Joe Sitt (Credit: Google Maps)

Thor Equities on the verge of losing another building in Manhattan

AOC unveils rent regulation plan, Hong Kong real estate stocks are sinking: Daily digest

Introducing ThorLogis, Thor Equities’ ambitious plan to break into logistics and e-commerce

Thor is breaking into the life sciences industry

James Hotel at 27 Grand Street and Thor Equities' Joseph Sitt (Credit: Google Maps)

Thor plans overhaul of James Hotel

Thor Equities chairman Joe Sitt and 1006 Madison Avenue

Thor in danger of losing Madison Ave property