Joseph Sitt, Jack Sitt & Hamid Salehzadeh Of Thor Equities Acquire 1359 Broadway For $217.5M
1359 Broadway
$217,500,000
$447/SF
Building Size
485,865 SF
Asset Type
Mixed-use
Closing
Oct 29, 2026
About this deal
AI
The mixed-use property located at 1359 Broadway in Manhattan has a sale price of $217,500,000. The asset encompasses a total square footage of 485,865, resulting in a price per square foot of $447.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $217,500,000
- Address: 1359 Broadway
- Market: Manhattan
- Buyer: Joseph Sitt, Jack Sitt & Hamid Salehzadeh - Thor Equities
- Seller: Tony Malkin, Christina Chiu & Max Bartmann - Empire State Realty Trust
- Brokers: Adam Spies, Douglas Harmon, Joshua King, Adam Doneger, Marcella Fasulo, Avery Silverstein & Calypso Peraticos - Newmark
This transaction features key participants from prominent companies, with Thor Equities acquiring the asset from Empire State Realty Trust. The brokers involved in this transaction represent Newmark, ensuring a comprehensive coordination of the sales process.
On the Map
$217,500,000
$447/SF
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93