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

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.


01/09/17
...From left: Joseph Sitt, Jonathan Fishman and Alan Klein Joseph Sitt’s Thor Equities is losing its top residential acquisition executives...

01/03/17
In 2013, founder and CEO of Peebles Corporation Don Peebles and his partner, the Israeli-based American real estate company Elad Group, purchased a 13-story building...

12/23/16
...From left: Wendy Maitland, Joseph Sitt, Faith Hope Consolo, Joe Aquino, Judge Judy (credit: Getty Images...

12/22/16
Commercial brokerages got a taste of the drama long associated with the residential world in 2016, when top New York investment sales brokers defected to...

12/14/16
...and his two children. Notably absent was former Town co-owner Joseph Sitt, who sold his stake in the company to Heiberger earlier...

12/09/16
...its presence in the five boroughs; the Chera family and Joseph Sitt are among its more prominent New York borrowers. Cai-Lee’s...

11/30/16
...Thor Equities’ Joseph Sitt predicts Donald Trump will be able to pull off a...

11/03/16
The condo board at 88 Greenwich Street has filed suit against Thor Equities and the September 11th Families’ Association over a plan to bring the...

11/03/16
For Robin Schneiderman, winning new assignments is all about the money. But not the money going into his pocket. Schneiderman, of Halstead Property Development Marketing,...

10/21/16
Town Residential named Corcoran Sunshine and Extell Development alumnus Elaine Diratz as managing director of new development, a position she will share with Shlomi Reuveni....

10/12/16
Modell’s Sporting Goods has inked a deal to take 17,500 square feet of retail space at Thor Equities’ 135 East 125th Street in Harlem. Tags:...

09/16/16
...now at Brown Harris Stevens, alleged that former Town co-owner Joseph Sitt withheld funds from the company, a move that caused agents...

09/14/16
...Walton Avenue in the Bronx (inset from top: Joseph Sitt and Steven Vegh) Joseph Sitt’s Thor Equities is in...

09/13/16
...purple where Thor Equities proposed a mixed-use apartment building. (inset: Joseph Sitt)  From the South Florida website: Thor Equities is looking to...

09/12/16
A member of the Mikati family is the latest official buyer at 432 Park Avenue with the purchase of a three-bedroom condo for $28 million....

09/06/16
Urban Muse is looking to cash in on the reinvention of the Park Row corridor near City Hall Park. Tags: Financial District ...

09/02/16
...the rooftop bar Jimmy (credit: The James New York hotel) Joseph Sitt’s Thor Equities is in contract to buy the trendy...

08/25/16
Qatar now holds a 9.9 percent stake in Empire State Realty Trust, giving it a piece of the Empire State Building, an icon of the...

08/24/16
...From left: 25 West 39th Street, Joseph Sitt and Christophe Garnier UPDATED, Aug. 26, 10:35 a.m.: Spark Labs, the...

08/23/16
A judge will decide by the end of the month whether to enforce Wendy Maitland’s noncompete with Town Residential, which would effectively block her from...

08/18/16
The bare-knuckle brawl over Wendy Maitland’s exit from Town Residential just got really bloody. Tags: Andrew Heiberger, brown harris stevens, town residential, wendy maitland ...

08/15/16
...Town in May and filed a lawsuit, accusing former co-owner Joseph Sitt of "starving" company funds. (more&hellip...

08/04/16
When CIM Group and Macklowe Properties wanted to add muscle to the sales effort at 432 Park Avenue, the developers brought in Douglas Elliman. Alchemy...

08/02/16
...GGP's Sandeep Mathrani, Thor's Joseph Sitt and 218 West 57th Street General Growth Properties and Thor Equities...

08/02/16
...real estate is still strong, according to Thor Equities CEO Joseph Sitt. (more&hellip...
To see all, go to Advanced Search
TOWN Residential, Real Estate Salesperson
337 West Broadway, New York, NY, (212) 924-4200
...
TOWN Residential, Real Estate Salesperson
337 West Broadway, New York, NY, (212) 924-4200
...
TOWN Residential, Associate Broker
337 West Broadway, New York, NY, (212) 924-4200
...
TOWN Residential, Real Estate Salesperson
337 West Broadway, New York, NY, (212) 924-4200
...
TOWN Residential, Real Estate Salesperson
337 West Broadway, New York, NY, (212) 924-4200
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Associate Broker
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
88 Greenwich Street, New York, NY, (212) 269-8888
...
TOWN Residential, Real Estate Salesperson
88 Greenwich Street, New York, NY, (212) 269-8888
...
TOWN Residential, Real Estate Salesperson
88 Greenwich Street, New York, NY, (212) 269-8888
...
TOWN Residential, Real Estate Salesperson
88 Greenwich Street, New York, NY, (212) 269-8888
...
TOWN Residential, Real Estate Salesperson
88 Greenwich Street, New York, NY, (212) 269-8888
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Associate Broker
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
TOWN Residential, Real Estate Salesperson
33 Irving Place, New York, NY, (212) 557-6500
...
To see all, go to Advanced Search
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • Event Sales
  • Address 1 Davidson Court
  • Neighborhood Mariners Harbor
  • Borough Staten Island
  • Price $ 2,185,000
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • Event Sales
  • Address 131 Silver Lake Road
  • Neighborhood West Brighton
  • Borough Staten Island
  • Price $ 2,300,000
notes
[EMPTY]
  • Event Sales
  • Address 660 Bay Street
  • Neighborhood Stapleton
  • Borough Staten Island
  • Price $ 1,500,000
notes
[EMPTY]
  • Event Sales
  • Address 280 Richards Street
  • Neighborhood Red Hook
  • Borough Brooklyn
  • Price $ 40,000,000
notes
[EMPTY]
Manhattan, 10010
THOR 164 5TH AVE LLC
164 Fifth Avenue is a four-story, 19,000-square-foot Flatiron District office building owned by...
Manhattan, 10016
245 FIFTH OWNER LLC
245 Fifth Avenue is a 24-story, 307,418-square-foot office building at the corner of...
Manhattan, 10016
Arthur G. Cohen, Goodstein Construction, FIFTH AVE CONDO - B.H
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...

12/30/15
  Dreams of Manhattan condominiums dominated 2015’s top 10 development site deals. While Gary Barnett’s Extell Development – which is known for this sort of...
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