Thor Equities Puts Up $124M In 2 Manhattan RE Deals

Law360, New York (July 22, 2013, 3:28 PM EDT) -- New York real estate mogul Joseph Sitt of Thor Equities has agreed to pay $64 million for the retail portion of the Milford Hotel in Manhattan and, in a separate deal, spend $60 million on the leasehold at 545 Madison Ave., two sources close to the deals told Law360 on Monday.

Sitt, who owns many iconic properties throughout the city, including on Madison Avenue, will take control of the leasehold at 545 Madison, a 17-story office building, from a joint venture including BlackRock Inc., Lehman Brothers...
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