NEW YORK CITY-In a deal reportedly valued at approximately $105 million, Thor Equities' Joseph Sitt is in contract to acquire 562 Fifth Ave. and the connected 564 Fifth Ave.
The 562 Fifth Ave. property is a 12-story building designed by Warren & Wetmore in 1921, according to the New York Post. The adjoining 564 Fifth Ave. is a seven-story townhouse. Sitt is acquring the master lease on the 562 Fifth Ave. building and purchasing the 564 Fifth Ave. property outright.
The properties total 120,000 square feet of office and retail and are being sold by Bank Leumi. Brian Gell of CBRE is the broker on the properties. See story in the New York Post.
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