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    Sitt Asset Management

    1 Pennsylvania Plaza
    New York, NY 10119
    (646) 414-6596
    Website

    Sitt Asset Management is a family-owned real estate investment firm based in New York City, and previous run by the four sons of Marilyn Sitt. As of 2015, its principals include two of the four brothers, Ralph and David Sitt. Two other former principals, Jack and Eddie, are no longer active managers at the firm, having split acrimoniously with Ralph, David, and Marilyn, but continue to be passive owners of stakes in the firm. The four brothers each own a fifth of Sitt Asset as does Marilyn, according to court documents. Sitt Asset Managements portfolio includes office buildings, shopping centers, strip malls, and residential developments. These include 2 Herald Square, 450 Broadway, and 34 Gansevoort Street. MK

    Jack Sitt Real Estate, Founder
    590 Madison Ave, New York, New York, 212 - 980 - 9500
    Jack Sitt is a New York City-based real estate investor and member of...
    Sitt Asset Management, Co-Founder
    1 Pennsylvania Plaza, New York, New York, (646)-414-6596
    Eddie Sitt is a New York City-based real estate investor and a member...
    Sitt Asset Management, Co-Founder
    1 Pennsylvania Plaza, New York, NY, (646) 414-6596
    David Sitt is a real estate investor and a member of the Sitt...
    • Event Financing
    • Address 715 Madison Avenue
    • Neighborhood Lenox Hill
    • Borough Manhattan
    • Square feet 9,546
    • Price $ 258,588,333
    • Publication Date 05/01/2017
    • Event Date 03/23/2017
    • Party 1 Sitt Asset Management, JRE Asset Management
    • Party 2 Banque J. Safra Sarasin
    notes
    The entity secured a $25.9 million loan from Luxembourg-based Banque J. Safra Sarasin.
    • Event Sales
    • Address 715 Madison Avenue
    • Neighborhood Lenox Hill
    • Borough Manhattan
    • Square feet 9,546
    • Price $ 61,500,000
    • Price per foot $ 6,442.48
    • Publication Date 05/01/2017
    • Event Date 03/23/2017
    • Party 1 Joshua Mailman, Jody Wolfe
    • Party 2 Sitt Asset Management, JRE Asset Management
    notes
    The 7-unit property in the Upper East Side was purchased for $61.5 million.
    • Event Office Leasing
    • Address 1328 Broadway
    • Neighborhood Koreatown
    • Borough Manhattan
    • Square feet 122,000
    notes
    The co-working giant signed a lease.
    • Event Sales
    • Address 1369 Broadway
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 40,000
    • Price $ 38,900,000
    • Price per foot $ 972.50
    • Publication Date 06/01/2015
    • Event Date 04/22/2015
    • Party 1 Sitt Asset Management, Sutton Equity
    • Party 1 Brokerage Moshe Group
    • Party 1 Broker Moshe Majeski
    • Party 2 Moshe Piller
    • Party 2 Brokerage Moshe Group
    • Event Sales
    • Address 42596 Prince Street
    • Neighborhood Downtown Brooklyn
    • Borough Brooklyn
    • Price $ 22,500,000
    • Event Sales
    • Address 159 and 161 Prince Street
    • Neighborhood SoHo
    • Borough Manhattan
    • Price $ 30,000,000
    • Publication Date 11/01/2014
    • Event Date 09/17/2014
    • Party 1 Bapple Real Estate
    • Party 1 Broker Nick Spanos
    • Party 2 Sitt Asset Management
    • Event Sales
    • Address 240 West 40th Street
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 159,774
    • Price $ 63,000,000
    • Price per foot $ 394.31
    notes
    The property sold for $63 million.
    • Event Sales
    • Address 711 Madison Avenue
    • Neighborhood Lenox Hill
    • Borough Manhattan
    • Price $ 48,000,000
    notes
    The property sold for $48 million.
    • Event Retail Leasing
    • Address 414 West 14th Street
    • Neighborhood West Village
    • Borough Manhattan
    • Square feet 7,521
    notes
    The outdoor clothing retailer signed a lease for another location.
    • Event Sales
    • Address 450 Broadway
    • Neighborhood Soho
    • Borough Manhattan
    • Square feet 13,760
    • Price $ 11,000,000
    • Price per foot $ 799.42
    notes
    The property sold for $11 million. Sitt Asset Management plans to fix up the building with the aim of signing a net lease for the entire property with a mid- to high-level fashion tenant.
    • Event Sales
    • Address 1370 Broadway
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 275,000
    • Price $ 125,000,000
    • Price per foot $ 454.55
    notes
    The property sold for $125 million. The building went into contract in November 2011. Sitt Asset Management and Carlton Associates bought the property in 2003 from SL Green Realty for $57.18 million.
    • Event Retail Leasing
    • Address 1369 Broadway
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 400
    notes
    The coffee and donuts chain signed a lease.
    • Event Office Leasing
    • Address 1369 Broadway
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 13,350
    • Price per foot $ 40.00
    notes
    The apparel company signed a lease for three floors.
    • Event Office Leasing
    • Address 414 West 14th Street
    • Neighborhood West Village
    • Borough Manhattan
    • Square feet 6,525
    • Publication Date 02/01/2011
    • Event Date 12/23/2010
    • Party 1 Sitt Asset Management
    • Party 2 Inscape Corporation
    • Party 2 Brokerage Grubb & Ellis
    • Party 2 Broker Stuart Siegel
    notes
    The contract furniture firm signed a 10-year lease.
    • Event Office Leasing
    • Address 414 West 14th Street
    • Neighborhood West Village
    • Borough Manhattan
    • Square feet 6,525
    • Publication Date 02/01/2011
    • Event Date 12/23/2010
    • Party 1 Sitt Asset Management
    • Party 2 Inscape Corporation
    • Party 2 Brokerage Grubb & Ellis
    • Party 2 Broker Stuart Siegel
    notes
    The contract furniture firm signed a 10-year lease.
    • Event Office Leasing
    • Address 1370 Broadway
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 16,786
    • Publication Date 09/01/2010
    • Event Date 07/23/2010
    • Party 1 Sitt Asset Management
    • Party 1 Brokerage In-house
    • Party 2 Jay Suites
    • Party 2 Brokerage JLL
    • Party 2 Broker Sean Black
    notes
    The office space provider signed a 10-year lease for the entire fifth floor.
    • Event Office Leasing
    • Address 414 West 14th Street
    • Neighborhood West Village
    • Borough Manhattan
    • Square feet 7,968
    • Price per foot $ 70.00
    notes
    The law firm inked a 10-year lease on the fourth floor. The company is relocating its offices.
    • Event Office Leasing
    • Address 414 West 14th Street
    • Neighborhood West Village
    • Borough Manhattan
    • Square feet 7,968
    • Price per foot $ 70.00
    notes
    The law firm inked a 10-year lease on the fourth floor. The company is relocating its offices.
    • Event Retail Leasing
    • Address 414 West 14th Street
    • Neighborhood West Village
    • Borough Manhattan
    • Square feet 2,616
    notes
    The denim retailer inked a 10-year lease with a five-year option. The reported asking rent was $400 per square foot.
    • Event Office Leasing
    • Address 2 Herald Square
    • Neighborhood Penn Plaza
    • Borough Manhattan
    • Square feet 57,200
    • Price per foot $ 60.00
    notes
    The college signed a 15-year lease for the fourth and fifth floors to expand its Herald Square space. The school also has 25,000 square feet at 1 Herald Square, 20,000 square feet at 875 Sixth Avenue and 100,000 square feet at its Brooklyn campus.
    • Event Office Leasing
    • Address 180 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 1,750
    • Publication Date 09/01/2008
    • Event Date 07/23/2008
    • Party 1 Sitt Asset Management
    • Party 2 Brightstar Healthcare
    • Party 2 Brokerage NYCRS
    • Party 2 Broker Jack Krupey
    notes
    The healthcare provider signed a seven-year lease.
    • Event Office Leasing
    • Address 180 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 2,533
    notes
    The Sri Lanka-based lingerie company inked a lease.
    • Event Sales
    • Address 180 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 275,000
    • Price $ 150,000,000
    • Price per foot $ 545.45
    notes
    The property sold for $150 million, or $540 per square foot. The seller acquired the building four years ago for $91.5 million.
    • Event Sales
    • Address 414-418 West 14th Street
    • Neighborhood West Village
    • Borough Manhattan
    • Price $ 70,000,000
    • Event Sales
    • Building Name 414-418 West 14th Street
    • Address 418 West 14th Street
    • Neighborhood West Village
    • Borough Manhattan
    • Square feet 28,000
    • Price $ 70,000,000
    • Price per foot $ 2,500.00
    notes
    The two buildings sold for $70 million, or an area record of $2,500 per square foot. The buyer plans to reconfigure the space for five levels with more than 46,000 square feet of retail and office space, including a penthouse and selling basement. The sellers originally purchased the properties in March 2006 for $18.5 million.
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    08/01/2015
    The three-story beachfront house has a pool, a tennis court and a basketball court. Sitt bought the 3.4-acre property for $5 million in 2000, but it’s appreciated in value nicely since. It was recently assessed at $11.4 million. Sitt also owns a property a few blocks away, at 166 Norwood Avenue. And his relatives are clustered in the neighborhood. Owners with the name Sitt are listed on 15 properties in Deal. For example, his cousin, Edward Sitt of Sitt Asset Management, which owns six properties in NYC, owns the house next door, at 162 Norwood Avenue...

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    12/01/2012
    In July 2003, Sitt Asset Management and Carlton Associates â€' the family that launched the Duane Reade drugstore chain â€' purchased the 275,055-square-foot office building 1370 Broadway at 37th Street for $57.2 million...

    08/01/2010
    The $77-per-square-foot price for the 6,525-square-foot sixth floor of 414 West 14th Street between Ninth Avenue and Washington Street is far below what the building’s owners â€' the Carlyle Group and Sitt Asset Management â€' expected to fetch for the space two years ago, sources said...
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