Daily limit: 0/10
Joe Sitt Of Thor Equities Secures $5 Million Loan For Retail Property At 470 Broadway
FINANCED
$5,000,000
New York
See Similar DealsRetail6,664 SF
Financed 10/10/2025
FINANCED
Joe Sitt Of Thor Equities Secures $5 Million Loan For Retail Property At 470 Broadway
470 Broadway
See Similar DealsRetail6,664 SF
Financed 10/10/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$750
Total Square Footage:6,664 SF
Transaction Type:Loan
The asset involved in the context is a retail property located at 470 Broadway in Little Italy, Manhattan. It encompasses a total square footage of 6,664. The landlord of this property is Joe Sitt, associated with Thor Equities. The property has secured a loan amounting to $5 million from Peapack Private Bank & Trust.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,000,000
- Address: 470 Broadway
- Market: Little Italy, Manhattan
- Lender: Peapack Private Bank & Trust
- Landlord: Joe Sitt - Thor Equities
This transaction highlights key players in the deal, particularly Joe Sitt, who leads Thor Equities. The financing provided by Peapack Private Bank & Trust supports the operational capabilities of the retail asset situated in a prominent Manhattan neighborhood.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,000,000.00
Monthly NOI$33,333.33
Monthly Debt Service$31,603.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions