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National Mixed-Use

French Billionaire Closes On Thor’s 693 Fifth Ave Office Building

Thor Equities just sold its office and retail building on 693 Fifth Ave in Midtown Manhattan to French billionaire Marc Ladreit de Lacharrière for $525M.

Joseph Sitt was behind Thor’s 2010 purchase of the 20-story, 105k SF building, which the firm bought from Japanese department store Takashimaya for $142M—now they've sold it for almost four times what they paid, The Real Deal reports.

Ladreit de Lacharrière is the chair and CEO of French holding company Fimalac, which holds minority stakes in Fitch Ratings and Warburg Pincus. This NYC real estate grab appears to be his first major pickup in the city, and it’s not yet clear what he has planned for the space, currently anchored by Valentino. [TRD]

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