Joseph Sitt | The Real Deal New York

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Joseph Sitt

CEO
Thor Equities
25 West 39th Street
New York, NY 10018
212 529 5055
Website

Joseph Sitt is the CEO of Thor Equities, the privately held development and ownership firm he founded in 1986. He is one of the more active developers in New York City.

Sitt is perhaps best known for his long-term redevelopment of much of the Coney Island, Brooklyn, waterfront (he grew up nearby). That effort started in 2001, when Sitt began buying up more than 10 acres, much of it rundown, with the idea of rebuilding it as a Vegas-style resort complete with new condos, hotels and a water park. The Bloomberg administration, however, opposed the rezoning for Sitt's plans, and he sold most of his Coney Island holdings in late 2009.

Sitt owns several other properties in Brooklyn, including the Livingston Shoppes mall, and in Manhattan, where he developed the 457-unit Greenwich Club condo building in the Financial District.

Sitt, who was born in 1964, got his business start with the Ashley Stewart clothing chain, which he sold in 2000.


06/19/17
...From left: Helen Keller, Joseph Sitt and 180 Livingston Street Helen Keller Services for the Blind is taking just over 46,000 square...

05/23/17
...individual and political action contributions to $2,750. Thor Equities' Joseph Sitt is one of the biggest donors to the state account, having donated $10,000. Sitt has...

05/22/17
...Fifth Avenue (inset: Joseph Sitt) Lululemon Athletica is in talks to take 8,000 square feet at Thor Equities' 597 Fifth Avenue...

05/16/17
...and 150 West 82nd Street GreenOak Real Estate bought Joseph Sitt...

04/27/17
...Walton Avenue and Joseph Sitt UPDATED, 2:01 p.m., April 28: Joseph Sitt’s Thor Equities is trying to exit a...

03/23/17
...Call it the Running of the "conservabulls." Joseph Sitt, head of Thor Equities, employed the term on Bloomberg TV on Wednesday, referring to...

03/23/17
...in marketing teams, since Sotheby's is its affiliate. Joseph Sitt of Thor, who was formerly an owner of Town, is staying out of the...

03/23/17
...into a single-family home. The property's owner is Joseph Sitt...

03/21/17
...the developers of 212 Fifth Avenue -- Madison Equities, Joseph Sitt’s Thor Equities and Building and Land Technology -- tapped Sotheby’s to market...

03/21/17
...Joe Sitt The clock may be working against Joseph Sitt as his Thor Equities looks to sell a portfolio of retail properties. Vacancies at...

03/20/17
...Michael Schurer, according to a spokesperson for the Joseph Sitt...

03/08/17
...Fifth Avenue in NoMad, which it co-owns with Joseph Sitt...

03/07/17
...Ben-Abraham and Yaron Jacobi, has teamed up with Joseph Sitt’s Thor equities to build a 100,000-square-foot condo tower on the Upper East Side...

02/23/17
...Joseph Sitt and 1993 East Fifth Street in Gravesend, Brooklyn Thor Equities CEO Joseph Sitt is the...

02/22/17
...st Street, Joe Sitt and 840 West End Avenue Joseph Sitt’s Thor Equities is looking to sell two properties it bought during a push...

02/13/17
...joint venture between Robert Gladstone’s Madison Equities, Joseph Sitt’s Thor Equities and Connecticut-based Building and Land Technology. Sotheby’s Nikki Field, Kevin...

02/10/17
...And while the deal has yet to close, Joseph Sitt’s Thor Equities signed a contract last year to buy a 280,000-square-foot West Bronx...

02/08/17
...were the Chera family’s Crown Acquisitions and Joseph Sitt’s Thor Equities. East West Bank has a loan portfolio of $24.8 billion, with about...

02/03/17
...North 9th-Street in Williamsburg and Joseph Sitt (Credit: Thor Equities) Thor Equities sued developer Sydell Group and contractor Magnetic Builders Group...

01/30/17
...From left: Yaron Jacobi, Uzi Ben-Abraham, Joseph Sitt and 1297-1299 Third Avenue Call it the Second Avenue subway effect. After paying $26 million...

01/28/17
...most renowned retail destinations in the world,” said Joseph Sitt, chief executive of Thor Equities to The Spaces. “With its magnificent redesign and new...

01/17/17
...was the biggest on its books. Thor's CEO, Joseph Sitt, was a co-owner of Town Residential until July, at which time Town CEO and...

01/17/17
...Clockwise from top left: Renwick Haddow, President Obama, Joseph Sitt, Douglas Durst and 4 Times Square The prize went from palm oil plantations in Sierra...

01/17/17
...into condominiums. Heiberger recently bought his former partner, Joseph Sitt of Thor Equities, out of his stake in Town for an undisclosed sum, making...

01/09/17
...From left: Joseph Sitt, Jonathan Fishman and Alan Klein Joseph Sitt’s Thor Equities is losing its top...
Thor Equities, Director of Acquisitions
25 West 39th Street, New York, NY, 212 529 5055
Scott Sherman is the director of acquisitions at Thor Equities, a privately held...
Thor Equities, Managing Director
25 West 39th Street, New York, NY, 212-529-5544
Cory Elbaum is a managing director and co-chair of acquisitions at Thor Equities,...
Thor Equities, Executive Vice President
25 West 39th Street, New York, NY
Jonathan Scheinberg is an executive vice president at Thor Equities, a privately held...
Thor Equities, Executive Vice President
25 West 39th Street, New York, NY
Alan Klein is an executive vice president at Thor Equities and co-head of...
Thor Equities, Executive Vice President
25 West 39th Street, New York, NY, (212) 529-5055
Melissa Gliatta is an executive vice president at Thor Equities, a privately held...
Thor Equities, Vice President
25 West 39th Street, New York, NY, 212-529-7424
Alexandra Frangos is the vice president of retail leasing at Thor Equities, a...
Thor Equities, Head, Capital Markets
25 West 39th Street, New York, NY
Larissa Belova is the head of capital markets at Thor Equities, a privately...
  • Event Sales
  • Address 680 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 35,000
  • Price $ 277,000,000
  • Price per foot $ 7,914.29
notes
The corner retail space sold for $277 million, the Wall Street Journal reported. Vornado Realty Trust had offered to pay $280 million for the space, but negotiations fell apart, allowing Joseph Sitt to step in and purchase the property, according to the paper.
  • Event Sales
  • Address 118 East 4th Street
  • Neighborhood East Village
  • Borough Manhattan
  • Price $ 11,500,000
  • Price per foot $ 442.00
  • Publication Date 01/01/2011
  • Event Date 11/22/2010
  • Party 1 Bruce Miltenberg, Bread & Butter Realty LLC
  • Party 1 Brokerage Massey Knakal Realty Services
  • Party 1 Broker John Ciraulo, Joseph Sitt, Craig Waggner
notes
The properties sold for $11.5 million, or $442 per square foot. The buildings contain 24 one-bedrooms and 45 studios. Forty of the apartments are rent stabilized, and 29 are free market. Includes 120-22 East 4th Street.
  • Event Sales
  • Address 111 4th Place
  • Neighborhood Carroll Gardens
  • Borough Brooklyn
  • Price $ 2,450,000
  • Publication Date 06/01/2010
  • Event Date 04/17/2010
  • Party 1 Broker Kenneth Freeman, Joseph Sitt
  • Event Sales
  • Address 91 Avenue D
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 2,982
  • Price $ 1,320,000
  • Price per foot $ 442.66
  • Publication Date 04/01/2010
  • Event Date 02/20/2010
  • Party 1 Brokerage Massey Knakal Realty Services
  • Party 1 Broker Michael DeCheser, Joseph Sitt
notes
The property sold for $1.32 million. The property has a store on the ground floor and two residential units above. The apartments are vacant, while the retail lease expires in June 2011.
  • Event Sales
  • Address 690 Castleton Avenue
  • Borough Manhattan
  • Square feet 19,716
  • Price $ 1,200,000
  • Price per foot $ 60.86
notes
The elevator building sold for $1.2 million, or $61 per square foot. The price represents a capitalization rate of 15.49 percent and a gross rent multiple of 3.5. The property contains two floors of medical office space, 14 parking spaces and two floors of residential space, which comprise 14 apartments that rent for below-market rates.
  • Event Sales
  • Address Staten Island portfolio
  • Neighborhood Midtown
  • Borough Staten Island
  • Price $ 7,575,000
  • Event Sales
  • Address 1 Davidson Court
  • Neighborhood Mariners Harbor
  • Borough Staten Island
  • Price $ 2,185,000
  • Event Sales
  • Building Name 530-536 Broadway
  • Address 536 Broadway
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 190,000
  • Price $ 190,000,000
  • Price per foot $ 1,000.00
notes
The two connected properties sold for $190 million, or $1,000 per square foot.
  • Event Sales
  • Address 530-536 Broadway
  • Neighborhood SoHo
  • Borough Manhattan
  • Price $ 190,000,000
  • Event Sales
  • Address 131 Silver Lake Road
  • Neighborhood West Brighton
  • Borough Staten Island
  • Price $ 2,300,000
  • Event Sales
  • Address 660 Bay Street
  • Neighborhood Stapleton
  • Borough Staten Island
  • Price $ 1,500,000
  • Event Sales
  • Address 280 Richards Street
  • Neighborhood Red Hook
  • Borough Brooklyn
  • Price $ 40,000,000
Manhattan, 10010
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245 Fifth Avenue is a 24-story, 307,418-square-foot office building at the corner of...
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445 Fifth Avenue, known as Fifth Avenue Tower, is a 33-story, 209,000-square-foot mixed-use...
Manhattan, 10036
Ceruzzi Properties|Shanghai Municipal Investment, 520 FIFTH OWNER LLC
520 Fifth Avenue is a mixed-use property under development by Thor Equities, a...
Manhattan, 10036
530 Fifth Avenue is a 26-story, 500,000-square-foot retail and office tower acquired in...
Manhattan, 10036
FIFTH AVENUE RETAIL P
562-564 Fifth Avenue are two adjacent buildings owned by Thor Equities, a privately...
Manhattan, 10036
THOR FIFTH AVENUE LLC
590 Fifth Avenue is a 19-story, 100,000-square-foot office and retail building owned by...
Manhattan, 10017
597 SCRIBNER LLC
597 Fifth Avenue, also known as the Scribner Building, is a 12-story building...
Manhattan, 10022
THOR 693 LLC
693 Fifth Avenue is an office-and-retail building owned by French billionaire Marc Ladreit de...

07/11/16
...to H&R in 2011. 270 Richards Street, Brooklyn  Joseph Sitt...

12/30/15
...local fixtures like Ziel Feldman's HFZ Capital and Joseph Sitt...
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