Joe Sitt Of Thor Equities Secures $53.5M Refinance From Argentic Real Estate Finance For Hotel

The asset involved is a hotel located at 27 Grand Street in SoHo, Manhattan, featuring 114 keys. Thor Equities acquired the property in 2017 for $66.3 million and has since secured a refinance for $53.5 million. The property previously obtained a refinancing of $50.1 million from Ramsfield Hospitality Finance in 2022.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $53,500,000
• Lender: Argentic Real Estate Finance
• Landlord: Joe Sitt - Thor Equities
• Original Purchase Price: $66,300,000
• Previous Refinance Amount: $50,100,000
• Date of Transaction: 10/01/2025
• Market: SoHo, Manhattan

The key individual in this transaction is Joe Sitt, representing Thor Equities as the landlord. Argentic Real Estate Finance is the lender facilitating the refinance for the ModernHaus SoHo hotel.