News
New York Multifamily

Joseph Sitt Becomes Mega Landlord with $800M Deal

Joseph Sitt’s Thor Equities Residential division began in October 2013 and already has more than $1B in holdings, after spending $800M on the entire Caiola family apartment building portfolios, The Real Deal reports. The 800k SF portfolio was patriarch Benny Caiola’s life’s work, and includes 25 elevator buildings on the Upper East Side, Upper West Side, Midtown and a 200-unit cash cow in Chelsea, reports Law 360. Thor deals over the past year include: a $181M property in Murray Hill last month, an $85M building on Riverside Drive and $37.4M for 840 West End Ave.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

How Long Island Projects Can Cut Through Red Tape And Community Opposition To Cross The Finish Line

Bringing Stability And Savings To CRE Insurance Through Working Layer

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Miami's Condo Craze Has Developers Spending Millions On Sales Galleries

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

Ryan Cos. Secures Permit For Austin's Sixth Street Redevelopment

Rapper Rick Ross Joins 670-Unit Miami Gardens Condo Project

Mamdani Adds Millions To Program Helping Retailers Negotiate With Landlords