The Real Deal New York

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

Thor Equities CEO laid out $11.6M for Gravesend home
February 23, 2017 09:00AM

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