693 Fifth Avenue | The Real Deal New York

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693 Fifth Avenue

693 Fifth Avenue
New York, NY 10022
(212) 529-7417
Office, Retail, Leasing/Rental
693 Fifth Avenue
693 Fifth Avenue is an office-and-retail building owned by French billionaire Marc Ladreit de Lacharrière. The structure, which has 20 stories and 105,000 square feet, was built in 1993. It was originally the property and New York flagship of Japanese retailer Takashimaya. In June 2010, the company closed the store. Thor Equities, a privately held real estate firm founded in 1986 by Joseph Sitt, acquired 693 Fifth Avenue for $142 million in 2010 after Takashimaya went bankrupt, and spent millions of dollars upgrading the property. Ladreit de Lacharrière, who bought it from Thor for $525 million in 2016, is chair and CEO of Fimalac, a French holding company that owns minority stakes in Fitch Ratings and Warburg Pincus.  
  • Year Built 1991
  • square feet 101,319
  • block and lot 1-01290-0003
  • BIN 1035742

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Wells Fargo and JPMorgan Chase expanded their overall commercial real estate loan portfolios in the second quarter amid a challenging lending environment, according to earnings...

...From left: Marc Ladreit de Lacharrière (via YouTube) and 693 Fifth Avenue French billionaire Marc Ladreit de Lacharrière lined up $250 million...

Luxottica U.S. Holding Corp., the U.S. subsidiary of the Italian conglomerate that owns eyewear brands such as Sunglass Hut, Ray-Ban, Oakley and Lenscrafters, has snagged...

...From left: Marc Ladreit de Lacharrière (via YouTube), 693 Fifth Avenue and Valentino store French billionaire Marc Ladreit de Lacharrière...

Joe Sitt wants to strike while the iron is still hot. Thor Equities, Sitt’s development and investment firm, is looking to sell off a sizable...

UPDATED, May 19, 12:26 p.m.: Though Joseph Sitt’s Thor Equities is selling a bevy of Fifth Avenue assets, the firm continues to make one-off multifamily...

Joseph Sitt is reportedly picking up 71 sponsor units at the historic Apthorp condominium building on the Upper West Side for $120 million. Tags: 390...

UPDATED, 3:05 p.m., May 6: U.S. commercial real estate values, which have steadily risen over the past six years to eclipse their pre-recession peaks, have “come...

Amid a Midtown selling spree, Joseph Sitt’s Thor Equities is considering selling the building that houses its headquarters. The development firm hired a JLL team to potentially...

...questions it doesn’t answer 5. Thor in contract to sell 693 Fifth Avenue for $525M...

Vornado Realty Trust is teaming with the Related Companies and Swedish construction giant Skanska on a bid to redevelop the James A. Farley Post Office...

...lawsuit from 111 West 57th partner 4. Thor in contract to sell 693 Fifth Avenue for $525M 5. The rise of the Brooklyn real estate brand...

Thor Equities and General Growth Properties are set to close in June on the $85 million purchase of a landmarked Midtown retail building that’s the...

...693 Fifth Avenue in Central Midtown (inset: Joe Sitt) Joe Sitt’s Thor...

Joseph Sitt’s Thor Equities is looking to sell a handful of office and retail properties on Fifth Avenue. Tags: joseph sitt, Madison Avenue, thor equities,...

From the South Florida site: New York-based Thor Equities has bought two more properties in Miami’s Design District, as it expands its sizable retail portfolio in...

...From left: Valentino, 693 Fifth Avenue and Joe Sitt Fifth Avenue's latest high-end tenant has moved...

Thor Equities is partnering with the mall real estate investment trust General Growth Properties to buy the office and retail building 685 Fifth Avenue from...

Rendering of 693 Fifth Avenue (Credit: Neocape) Thor Equities' renovation of the former Takashimaya department store in Midtown and the 3.5-mile QueensWay Cultural Greenway are among the...

A flurry of activity along Fifth Avenue’s prime retail stretch has a wave of newcomers moving into prime locales, while longtime mainstays revamp flagship stores...

...Andrew Goldberg and 693 Fifth Avenue CBRE retail broker Andrew Goldberg has been promoted to vice...

Thor Equities’ Joseph Sitt is in contract to buy two Fifth Avenue buildings near the Diamond District for about $105 million. The deal will add...

Over the past seven years, Malkin Holdings has steered the once warren-like Empire State Building from a derided Class B relic to a reinvigorated office...

UPDATED, Aug. 28, 7:15 a.m.: The popularly-priced watch store Swatch Group put its location at 666 Fifth Avenue on the market with an asking price...
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  • Event Financing
  • Address 693 Fifth Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 96,500
  • Price $ 250,000,000
  • Price per foot $ 2,590.00
  • Publication Date 08/01/2016
  • Event Date 06/17/2016
  • Party 1 Ladreit de Lacharrière
  • Party 1 Brokerage CBRE
  • Party 1 Broker Shawn Rosenthal, Jason Gaccione
  • Party 2 JPMorgan Chase Bank
The French billionare secured a $250 million acquisition loan.
  • Event Sales
  • Address 693 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 100,000
  • Price $ 525,000,000
  • Price per foot $ 5,250.00
The office and retail building sold for $525 million.
  • Event Retail Leasing
  • Address 693 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 5,300
  • Event Sales
  • Address 693 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 97,500
  • Price $ 140,000,000
  • Price per foot $ 1,435.90
Joe Sitt of Thor Equities won the Takashimaya Building last month with an offer of $140 million, or around $1,450 per square foot.

Fifth Avenue is not usually a New York City laggard, but it’s been a decade since a major development has gone up on the tony...

With Upper Fifth Avenue snatching back from Hong Kong’s Causeway Bay the title as the world’s most expensive retail district, aggressive bets made in Manhattan...

The General Motors BuildingUpper Fifth Avenue (the portion between 49th and 59th streets) is the most expensive retail stretch in the world. However, it's not...

Click to enlargeAs everyone knows, the Lehman Brothers bankruptcy and the economic chaos that followed wreaked havoc on the Manhattan commercial market. On the sales...