TTL: Sitt of Thor Equities Shares Personal Insights and Professional Tips with Georgetown Mcdonough School of Business Students December 08, 2015 - Front Section

Total Page：16

File Type：pdf, Size：1020Kb

TTL: Sitt of Thor Equities shares personal insights and professional tips with Georgetown McDonough School of Business students December 08, 2015 - Front Section Shown (from left) are: Bob Steers, Joseph Sitt and Matthew Cypher. New York, NY Joseph Sitt, president and CEO of Thor Equities, shared his personal insights and professional tips with Georgetown McDonough School of Business students and alumni at a special event co-hosted by the school’s Steers Center for Global Real Estate and the Georgetown University Wall Street Alliance. The event was held November 12 at Skadden, Arps, Slate, Meagher & Flom 4 Times Sq. As a global leader in the real estate industry, Sitt talked about current trends and forecasts in a discussion with Matthew Cypher, Ph.D., director of the Steers Center for Global Real Estate. Sitt followed up by answering questions from the audience. Sitt is president and CEO of Thor Equities, a global leader in urban real estate development, leasing and management of commercial, residential, retail, hotel, and mixed-use assets. Founded in 1986 by Sitt, Thor Equities owns prime property in the United States, Europe, Canada, and Latin America. Sitt also is CEO of Thor Retail Advisors, a premier leasing agent and exclusive representative of global retailers in their search for prime locations; chairman of Thor Urbana, which develops and acquires retail, office, and mixed-use urban properties throughout Mexico; chairman and managing principal of Thor Urban Property Funds, an investment vehicle serving pension funds, investment banks, top-tier college endowments, and foundations; and chairman of TOWN Residential. New York Real Estate Journal - 17 Accord Park Drive #207, Norwell MA 02061 - (781) 878-4540.

Copy Link

Recommended publications

For Immediate Release Thor Equities Closes On
FOR IMMEDIATE RELEASE THOR EQUITIES CLOSES ON ACQUISITION OF THE JAMES NEW YORK – SOHO Modern Boutique Hotel Features 114 Guestrooms, and Three Food and Beverage Spaces New York, December 15, 2017 – Thor Equities, a global leader in urban real estate development, leasing and management, has closed on its acquisition of The James New York – SoHo, company executives announced today. Thor Hospitality Group, a newly formed division of Thor Equities, is planning substantial renovations and upgrades to the property. Located at 27 Grand Street on the corner of Thompson Street, The James New York – SoHo has been named one of “The Best Hotels in New York City” by Travel + Leisure. The 18-story, 75,800-square-foot boutique property features 114 guest rooms, three food and beverage outlets, and meeting and event space totaling 1,500 square feet. “The James New York is a quality property located in the center of a bustling area of SoHo, which has become one of New York’s premier live, work and play neighborhoods,” said Jack Joe Sitt, Vice President of Thor Hospitality Group. Jeffrey Davis of JLL brokered the deal. The James New York – SoHo is within easy walking distance to the Children’s Museum of the Arts, Film Forum and SoHo Playhouse, and surrounded by numerous corporate offices, upscale restaurants, art galleries and high-end retail stores. Among the amenities at The James New York – SoHo are an outdoor rooftop swimming pool and fully-equipped fitness center, both with views of the Manhattan skyline and Hudson River, as well as 24-hour in-room dining.
[Show full text]
Thor Picks up 180 Livingston Street in Downtown Brooklyn for $136M [Updated]
OCTOBER 15, 2015 Thor Picks Up 180 Livingston Street in Downtown Brooklyn for $136M [Updated] BY LIAM LA GUERRE AND LAUREN ELKIES SCHRAM Thor Equities has closed on its $136 million purchase of 180 Livingston Street one block from the Fulton Mall in Downtown Brooklyn from two owners, Brooklyn Tabernacle and Treeline Companies, Thor announced today. That breaks down to $85 million for Treeline’s 182,000-square-foot commercial condo and $51 million to the church for its 75,000-square-foot condo. The Treeline deal includes the roof and 142,525 additional buildable square feet for as-of-right development, a source with knowledge of yesterday’s two simultaneously completed deals said. Brooklyn Tabernacle owned the lower level and first and second floors. Treeline owned floors three through six. Brooklyn Tabernacle will remain in the 33,500-square-foot space below grade, the source said. And the Metropolitan Transportation Authority is Treeline’s anchor tenant in over 123,900 square feet on floors four through six until April 2023, according to CoStar. Treeline originally purchased the property in 2001 and sold the lower floors to Brooklyn Tabernacle in 2004, according to Michael Schor, the Treeline’s chief investment officer. “We turned what was then a warehouse into an office property,” Mr. Schor told Commercial Observer. “An opportunity came to monetize it and we decided to sell the property.” Cushman & Wakefield‘s Stephen Palmese represented the seller in the transaction. Mr. Palmese was not immediately available to comment on the transaction. The buyer did not have a broker. “180 Livingston is ideally situated in the heart of Brooklyn’s largest business district and surrounded by such dynamic neighborhoods as Dumbo, Brooklyn Heights, and the Brooklyn Navy Yard,” Joseph Sitt, chief executive officer of Thor Equities, said in prepared remarks.
[Show full text]
311,796 SF 280 Richards Street
280 Richards Street 311,796 SF RED HOOK, BROOKLYN OF INDUSTRIAL PRODUCT FOR LEASE CENTRAL E-COMMERCE LOCATION SUMMARY 280 Richards Street is a state-of-the-art logistics warehouse located in Red Hook; one of the hottest neighborhoods in Brooklyn. The building offers a superior location to reach Brooklyn and Manhattan e-commerce customers with immediate access to I-278 (Brooklyn Queens Expressway) and the Hugh Carey Tunnel. The facility is a top-tier single-level building with wide column spans, energy efficient lighting, and an abundance of parking and circulation for trucks and cars. With a mounting deficit of purpose-built logistics buildings, 280 Richards Street will be in huge demand by third party logitics companies and large e-commerce companies looking for quality last mile distribution facilities. The location offers a unique opportunity for them to quickly deliver goods to their consumers, with special access to an exponentially growing segment of the e-commerce business: the millennial populations of Brooklyn and lower Manhattan. Ultimately, it will allow these companies to conveniently insert themselves into New York’s competitive e-commerce field with access to a hotspot of e-commerce consumers. Property Overview 280 Richards Street is a class A warehouse development being developed by Thor Equities. With access to a vast Address 280 Richards Street, workforce, modern distribution tenants will have a surplus Brooklyn, NY of quality labor at their doorstep. 280 Richards is located Total SF 311,796 in a prime area with easy access to New York City. Warehouse SF 139,244 n For long term lease Mezzanine/Office SF 11,732 n Build-to-suit opportunity Rooftop Vehicle Storage 160,820 SF n Ideal opportunity for retailers, e-commerce and NYC centric companies Lot Size 15.99 Acres n Excellent labor pool Building Dimensions 660’ x 243’ n Located in Red Hook, Brooklyn Clear Ceiling n Two minutes from Manhattan Height to Structure 36’ n Less than a minute from the Hugh L.
[Show full text]
Madison Avenue Personifies the Luxury and Grandeur Associated with Madison Avenue Retail, and Exudes the Esteem Associated with the Upper East Side Neighborhood
680 Madison Avenue personifies the luxury and grandeur associated with Madison Avenue retail, and exudes the esteem associated with the Upper East Side neighborhood. Built in 1951, originally called the Helmsley Carlton House, 680 Madison Avenue offers two levels of retail with multiple storefronts. Between East 61st and East 62nd Streets, the property boasts 115 ft of frontage spanning what is arguably the most desired block on Madison Avenue. pg. 2 pg. 4 (2,051sm) amazing 22,075 ft (3.6sm) Total square footage ceiling12 heights over 115 ft (35 sm) All entrances Madison Avenue frontage on grade st & nd streets 61Located between62 Hermès & Barney’s New York pg. 6 st 1FLOOR PLAN 61st Street 61st 62nd Street Madison Avenue nd 2FLOOR PLAN 61st Street 61st 62nd Street Madison Avenue pg. 8 J Mendel Barneys Tiffany & Co. Longchamp Burberry Bvlgari Christian DiorEtro Coach Hermès Prada Vertu Gucci Chanel Valentino Bally DKNY Roberto Cavalli Louis Vuitton Bergdorf Goodman Jimmy Choo Torneau Avenue Madison NEIGHBORHOOD Located in the heart of Madison Avenue shopping district and steps away from Fifth Avenue, Central Park and Manhattan’s Museum Mile. 66th BCBG Maxazaria J. Crew Mardani John Varvatos Derek Lam Santoni Nespresso Georgio Armani Alice & Olivia 65th Roger Vivier Givenchy Alexander McQueen Loro Piana Pomellato Bottega Veneta Chanel Fine Jewelry Plaza Athenee Hotel 64th Etro Vacheron Constantin Jimmy Choo Nirav Modi Buccellati Paule Ka David Yurman FP Journe Graff Longchamp Robert Cavalli 63rd Nello Chopard Panerai Hublot Jaegar-LeCoulture Jimmy Choo Hermès Hermès 62nd Brioni Church's Berluti Morgenthal Frederics Agent Provocateur Brunello Cucinelli Loews Knickerbocker Club Aaron Basha Serafina Regency Hotel CENTRAL PARK 61st Sirio Barneys New York Vince Camuto Michael Kors Pierre Hotel L.K.
[Show full text]
Rezoning Coney Island the Crisis of Routine‐Development and the Struggles Over “The People’S Playground”
Rezoning Coney Island The crisis of routine‐development and the struggles over “The people’s Playground” Alessandro Busà Architect, DFG Fellow, Center for Metropolitan Studies, Berlin Abstract The struggles over development in Coney Island cast light on the crisis of conventional development practices Keywords: that crystallized in the times of New York’s housing boom, between Mayor Bloombergs’ first and second Coney Island term. Coney Island holds a special role in history as a popular amusement park district. The recently approved New York Urban rezoning plan replicates widely implemented development strategies featuring a residential and commercial development expansion at the expenses of the land currently zoned for amusements; it allows for the rise of condominium Rezoning towers and large scale "entertainment‐related" retail outlets, while permanently shrinking the amusement Amusement area from 61 to around 9 acres. In this paper, I argue that the reproduction of routine‐development industry practices that proved profitable in a booming economy is likely to fail in the newly configured economic Economic crisis framework and in the peculiar local context. The ongoing recession calls for a different approach to Architect development, one that favors economic diversification and capitalizes on local distinctive advantages. Alessandro Busà, The flattening of Coney Island’s peculiar assets will prove detrimental to its livelihood in the years to come. DFG Fellow To clarify this points, I will draw from recent studies of the Municipal Art Society in New York, which illuminate the potential of the amusement industry as a motor for economic development, contributing to Center for the empowerment of local business in the area and to an overall diversification of the city’s plunging Metropolitan economy.
[Show full text]
Thor Equities Welcomes Lamy to 452 West Broadway in Soho
THOR EQUITIES Contact: Joshua Greenwald 212-432-3062 [email protected] FOR IMMEDIATE RELEASE THOR EQUITIES WELCOMES LAMY TO 452 WEST BROADWAY IN SOHO Manufacturer of High-Quality Writing Instruments Signs Long-Term Retail Lease for Entire Three-Level Building New York, November 6, 2017 – Thor Equities, a global leader in urban real estate development, leasing and management, has leased 452 West Broadway in SoHo to Lamy for its flagship U.S. store, company executives announced today. The German maker of high-quality writing instruments signed a long- term deal for the entire three-level, 2,000-square-foot building for its first store in North America, which is scheduled to debut in spring 2018. “We are pleased to welcome Lamy to West Broadway in SoHo, which continues to be one of New York City’s premier shopping destinations for both residents and tourists,” said Melissa Gliatta, COO of Thor Equities. Situated between Prince Street and West Houston Street, with 30-foot high glass frontage overlooking West Broadway, the property is surrounded by leading retailers such as Birchbox, DSquared2, Ladurée, DKNY, Missoni, Moleskine and Chobani. In addition to 452 West Broadway, Thor Equities’ SoHo portfolio including multiple buildings along Greene Street, Wooster Street, Broadway, West Broadway, Broome Street and Mercer Street. ### About Thor Equities: Thor Equities is a leader in the development, leasing and management of commercial, residential, retail, hotel and mixed-use assets in premier urban locations worldwide. The company maximizes returns for investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge.
[Show full text]
Next Stop Williamsburg
NEXT STOP WILLIAMSBURG WILLIAMSBURG NEXT STOP L TRAIN AT BEDFORD AVE Over 9.9 Million Riders Annually (fastest growing station in Brooklyn averaging an increase of approximately 1 million new riders each year) OVER 2.7M PEOPLE LIVE IN BK Over 25K People Within A Half Mile Radius of Williamsburg INTRODUCING NEXT STOP 36 YEARS OLD WILLIAMSBURG Average Age in Williamsburg OVER 250 RESIDENTIAL CONDOS Sold in the Last 18 Months with Average Sale North of $ 1Million SPACE NINETY 8 TIMES SQUARE PENN STATION MANHATTAN WEST UNION VILLAGE SQUARE SOHO train GREENPOINT EAST VILLAGE WILLIAMSBURG BRIDGE All Major Subway and Bus Lines Cross the TRIBECA dTrain, Making Williamsburg One of the Most Accessible Areas in All of Brooklyn MANHATTAN BRIDGE BEDFORD AVE NEXT STOP BROOKLYN BRIDGE WILLIAMSBURG DUMBO VINEGAR HILL WILLIAMSBURG BROOKLYN HEIGHTS FORT GREENE BED-STUY N13th ST UNION AVE GREENPOINT KENT MCCAREN PARK WYTHE ANCHOR 1 ANCHOR 2 N12th ST N12th ST OUTPUT RESIDENTIAL TURKEY NEST TAVERN CONSTRUCTION L Train Apple Store REYNARD PARKING THE GIBSON MOETY - CONSTRUCTION BEDFORD 9.9 Million Riders Annually Whole Foods INTEGRAL CLINIC AVE DRIGGS N11th ST N11th ST VICTORY KINFOLK MATCHA CAFE KENT ALEHOUSE THE BEDFORD KHIMS MILLEMIUM MARKET JUNGLE VON DOLHENS NUAS ALE HOUSE FENAILLY LAGUNITAS MP TAVERNA ALLSWELL ANCHOR 4 PRINTHOUSE BERRY ST BERRY LITTLE AXE N10th ST N10th ST N10th ST BEDFORD MEDICAL BROOKLYN MYMOON TRANSBORO SOFT SPORT BAR SIPS & BITESKILO BRAVOWILD GINGER THE CRAIC FUEL OIL AUTO CENTER CORP MONK KENT BUFFALO EXCHANGE CORNER BARBER MIRANDA
[Show full text]
Barclays Center Sample Wine Bar Smith New’S & Variety Van Leeuwen WYCKOFF ST Artisan Ice Cream Homage Hanco’S Bubble Tea & Vietnamese Sandwich Thai Sesame Rime
292 Atlantic Avenue Silk Road AntiquesSilk Road Nicky’s Vietnamese Sandwich SlidingDoors Kohler Fed-exOfce Ymca Little Gym Little ATLANTIC AVE 99 & Below 99& A1a Printing A1a Ms HalilMs Meat The Soul Spot Vintage Signage Petsmart SupraSneakers MarketGrocery & BrooklynIndustries CreativeArts Studio Sprint Prothotic Laboratories AboveAllBailBonds Two8two Bar & Burger Two8two& Bar Palm BeachOfNy Palm Trader Joe’s Trader BrooklynHeights Bike Shoppe Barney’s Co-op Barney’s Pacic Dental Care Pc BOERUM PL BOERUM Brooklyn Wine ST COURT The Sterling School 292 ATLANTICPacico AVENUE Exchange Paper Source Enamoo PACIFIC ST Iris Nails Free People Brooklyn Wild Ginger Pan-asian Vegan Cafe Kyoto Sushi La Lunetta 119 Smith Street Spa Pta261 Ps Of Kam Feng Chinese Take Out Public School 261 Ny Sports Club Bien Cuit Micro Museum Ki Sushi SMITHST Exit 9 Brooklyn Downtown Cleaners Dashing Diva Chop Chop Be Jeweled Starbucks DEAN ST Bar Tabac Flight 001 Lucky Brand Jeans Smith St Laundry One Girl Cookies Atomic Wings Coco Roco Dna Footwear Barclays Center Saul Ziad’s Gourmet Raga Indian Loving Pet Food Something Else VanLeeuwen Hanco’sBubble Tea ArtisanIce Cream CobbleHill Animal Clinic Domino’s Pizza Vietnamese & Sandwich 61 Local Downtown Brooklyn is the place to be. BERGEN ST Dunkin’ Donuts Smith New’s & Variety Caruso’s Pizza Homage Sample Wine Bar DowlingRealty Broken English Rime Thai Sesame MaryMcdowell Friends School Starbuck’s WYCKOFF ST Lululemon Smith st Nearby • About 5 minutes from the Brooklyn Bridge (about 3 miles) • About 20 minutes from Coney Island and Brighton Beach • 2 minutes from Downtown Brooklyn 292 • About 10 minutes to Williamsburg (3 miles) Atlantic Avenue • 30 minutes (4 miles) from Governors Island Attractions/Museums/Galleries 292 Atlantic Avenue is a dynamic • Barclays Center, home of The Nets Basketball team (7 mins away) retail location just minutes from the • Brooklyn Botanic Garden (8 mins away) new state of the art Barclays Center, • DUMBO Arts Center (6 mins away) home of the Brooklyn Nets.
[Show full text]
Commercial Property Spain Commercial Property Spain
COMMERCIAL PROPERTY SPAIN COMMERCIAL PROPERTY SPAIN RECORD LEVELS OF OVER €7.8 BILLION WERE INVESTED IN COMMERCIAL PROPERTY IN SPAIN IN 2017. 2019 IS EXPECTED TO REACH A SIMILAR FIGURE TO 2018. RETAIL AND OFFICES WERE THE MAIN SECTORS IN 2018 WITH MORE THAN 3. 6 BILLION IN RETAIL INCLUDING HIGH STREET AND 2.3 BILLION IN OFFICES. THE INVESTMENT VOLUME FOR THE FIRST QUARTER OF THE YEAR HAS BEATEN RECORDS COMPARED TO THE SAME PREVIOUS PERIODS, REACHING ALMOST €1.3 BILLION. THE MARKETPLACE FOR COMMERCIAL PROPERTY IS CONTINUING TO GROW AND STRENGTHEN. KNIGHT FRANK IS LEADING THE WAY. COMMERCIAL PROPERTY COMMERCIAL PROPERTY SPAIN SPAIN THE COMMERCIAL REAL ESTATE SECTOR A STRONGER, MORE EFFICIENT ECONOMY REMAINS IN THE INVESTOR’S SPOTLIGHT, Now in its fourth year of expansion, Spain’s economic climate continues WITH A GLOBAL VOLUME OF €7.3 BILLION to strengthen. There are clear signs that the economic and occupational markets AT THE END OF 2018 are in positive growth territory and the outlook is promising. Along with the traditional interest in the retail and offices sectors, the The Spanish economy continues to outpace the eurozone, with 2.8% growth logistics market has continued to grow in the last year, reaching approximately €1.2 billion. H[SHFWHGLQ&RQVXPHUFRQÀGHQFHLVH[SHFWHGWRUHPDLQKLJKDQG unemployment continues its downward trajectory, from 27% in 2013 to The retail sector reached a maximum investment point of €3.6 billion, 16.55% in 2017 to 15.28% so far in 2018. Politically, 2018 has shown a LQFOXGLQJWKHLQFUHDVHLQ high street VWRUHVZKLFKUHSUHVHQWV0RIWKHWRWDO SRVLWLYHLQFUHDVHLQWKHQXPEHURIDXWRQRPRXVFRPPXQLW\DIÀOLDWLRQV LQYHVWPHQWLQWKH5(2IÀFHVZHUHLQVHFRQGSODFHDW3DQGDWRWDODPRXQW of €2.2 billion.
[Show full text]
Thor Equities and AEW to Acquire 100 New Oxford Street, London for £180Mn
PRESS RELEASE 7 August 2017 Thor Equities and AEW to acquire 100 New Oxford Street, London for £180mn Thor Equities and AEW have signed a contract to acquire 100 New Oxford Street, a prime mixed-use building in London’s West End for £180mn, company executives announced today. AEW’s stake in the property is being purchased through a club deal consisting of two German investors. 100 New Oxford Street is located just 100 metres from Tottenham Court Road station, which is currently undergoing a major refurbishment as part of London’s Crossrail development and will provide access to the Elizabeth line which is scheduled to open in 2018. Europe’s largest infrastructure project, Crossrail is expected to bring an extra 1.5mn people to within a 45 minute commute of Central London. A number of significant retail and residential developments are also underway in the immediate area, including the Centre Point tower, across the road from 100 New Oxford Street, which will include 82 high end apartments, as well as retail and restaurants. Rob Wilkinson, European CEO at AEW commented: “100 New Oxford Street is an exceptional property in an area that is benefitting from major investment and improvement, including the most significant infrastructure project in Central London for over a century. As such the property represents a compelling opportunity and a great introduction to the London market for our German clients who we are very pleased to bring to the UK capital. The asset is further augmented by the numerous residential and commercial development projects in the vicinity of the asset which are enhancing the area’s potential, boosting business and improving public spaces.” The extensively refurbished asset comprises a total of 106,404 sq ft, with 18,507 on the ground floor across six prime retail units and two restaurants, with over 260 ft of frontage.
[Show full text]
Press Release
Press Release Hamburg, 31 January 2018 Union Investment acquires retail property from Thor Equities in the heart of Madrid New COS flagship store / 1,320 sq m of rental space in pedestrian zone at Calle de Fuencarral 16 Union Investment has acquired a high street property from Thor Equities comprising some 1,320 sq m of rental space in one of Madrid’s main shopping streets. Built in 1900, the five-storey building at Calle de Fuencarral 16 was completely refurbished in 2017. The long-term tenant occupying the entire property is the H&M Group, which has established a flagship store for its COS brand in the building. The new shop is scheduled to open at the beginning of February 2018. The parties agreed not to disclose details of the purchase price. The acquisition will be added to the holdings of institutional open-ended real estate fund UniInstitutional European Real Estate. This is the fund’s first retail property in Spain. Union Investment will manage the property from its local office in Madrid. “Our investment strategy encompasses the full spectrum of retail properties. The purchase of this first-class high street property in the heart of Madrid follows on from the acquisition of Polish shopping centre Magnolia Park with its 241 store units at the end of 2017. The two transactions illustrate the range we cover,” said Henrike Waldburg, head of Investment Management Retail at Union Investment Real Estate GmbH. “Calle de Fuencarral was pedestrianised in 2009 and has since become a magnet for high-end retail brands and the many people frequenting central Madrid.” “After refurbishing Calle de Fuencarral 16 and successfully leasing the entire building within a year of acquisition, we felt the time was right to sell this highly desirable asset,” said Joseph Sitt, CEO of Thor Equities.
[Show full text]
Taconic Investment Partners and Thor Equities Break
Taconic Investment Partners and Thor Equities break ground on 837 Washington; Project designed by Morris Adjmi Architects January 28, 2013 - New York City Co-developers Taconic Investment Partners and Thor Equities have begun construction on 837 Washington, a new office and retail building that will redefine the standard of the Meatpacking District's architectural, aesthetic, and commercial offerings. Situated on the corner of Washington and 13th Sts., the existing landmark structure will be restored and integrated within a brand new 55,000 s/f space envisioned as a flagship location for market-leading companies from the fashion, technology, entertainment and media industries. "837 Washington will be an example of best-in-class design and the highest quality new construction on one of the hottest blocks in the city," said Paul Pariser, co-CEO of Taconic Investment Partners. "The neighborhood has become a hotbed for global companies; it's the ideal location for a visionary corporate and retail flagship looking to brand their identity with a central position in the heart of the Meatpacking District." 837 Washington's three retail levels will total 28,000 s/f anchored by a corner presence on Washington and 13th Sts. near the Standard Hotel and the High Line. The office portion will measure 27,000 s/f, serviced by two elevators via a private lobby on Washington St., and have 12 ft. ceilings with full height divided light window walls affording natural light and views in every direction. In addition, the building offers private terrace spaces of 500 s/f on the 2nd floor, 3,500 s/f on the 3rd floor, and 3,000 s/f on the roof, with some of the Meatpacking District's best vantage points of the High Line, Hudson River, Midtown, and Lower Manhattan.
[Show full text]