The Real Deal New York

Cory Elbaum is a managing director and co-chair of acquisitions at Thor Equities, a privately held real estate firm founded in 1986 by Joseph Sitt, as of Feb. 20, 2015. He joined Thor in May 2005.

Prior to joining Thor, Elbaum was acquisitions associate at Crescent Heights, a Miami-based residential real estate company. On Feb. 25, 2014, Halstead Property filed a $1.25 million suit against Thor Urban Investments, alleging Halstead was entitled to a finders fee in Thors acquisition of a Miami property.

Halstead alleged that in February 2013, John Goldman, managing director of its commercial division, advised Elbaum that a property at 10-15 Northeast 40th Street/3995 North Miami Avenue, an office/retail building in the Miami Design District, was on the market.

Halstead claimed that by November 2013, Thor entered an agreement to buy the property for $50 million, without using Halstead as the broker. Halstead claimed it was entitled to a brokerage commission equivalent to 2.5 percent of the purchase price. Thor moved to dismiss the complaint on the grounds that Halstead is not a registered or licensed broker in Florida. On Sept. 18, 2014, the court granted dismissal of the action.

-JC