It’s proving to be a busy week for Joe Sitt’s Thor Equities.
The agency bought the retail and workplace constructing at 1165 Broadway in NoMad from David Haddad for $56 million, the Industrial Observer reported. The deal for the 58,000-square-foot property breaks right down to $965 per sq. foot.
The constructing on the intersection of Broadway and twenty seventh Avenue is absolutely occupied, in response to Thor. Workplace tenants embody footwear model Christian Louboutin and music writer Major Wave, whereas cosmetics firm Aesop occupies retail area.
Thor’s chief working officer Melissa Gliatta, in an announcement, referred to as the property “a compelling alternative to accumulate a totally leased asset in one in every of Manhattan’s most resilient markets.” Haddad was not in a position to be reached for remark.
The landmarked property previously served as a resort earlier than it was transformed to different industrial use in the beginning of the twentieth century. Architect Charles Mellon constructed and designed the five-story property, which was accomplished again in 1867.
Elsewhere in Manhattan, Sitt is shuffling the deck chairs on his actual property ship. Ilan Bracha’s IB World recently closed on the vacant 15,000-square-foot workplace and retail constructing at 3 East forty eighth Avenue for $9.5 million. The lender seized the property together with the adjoining Scribner Constructing at 597 Fifth Avenue in a June foreclosures public sale after Thor defaulted on a $105 million CMBS mortgage that was backed by the 2 properties.
Blackstone filed a foreclosure lawsuit in April 2025 in opposition to Thor, alleging the agency defaulted on a $10 million mortgage at 25-27 Mercer Avenue in Soho. Thor allegedly owed $9.5 million on the mortgage, and Blackstone moved shortly to file the foreclosures case after notifying Thor of the alleged default.
Elsewhere in NoMad, Eyal Ofer’s World Holdings landed a $450 million commercial mortgage-backed securities debt from Wells Fargo final month to refinance the NoMad Tower at 1250 Broadway. World Holdings acquired the 39-story constructing in 2016 for $565 million and subsequently invested $50 million in renovations.
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Ilan Bracha scoops up Scribner sidekick after Thor flop
Thor and Premier face Soho foreclosure
Eyal Ofer’s Global Holdings pulls in $450M refi for NoMad tower
