Deals
Manhattan Land Plot to Be Sold for Double 2011 Price
This article is for subscribers only.
Joseph Sitt’s Thor Equities LLC agreed to sell land on Manhattan’s Fifth Avenue for $275 million, almost double the price the firm paid for the property in 2011, according to two people with knowledge of the agreement.
Ceruzzi Properties LLC, a Fairfield, Connecticut-based real estate investor, is under contract to buy the 300,000-square-foot (27,900-square-meter) site at 520 Fifth Ave., said the people, who asked not to be identified because the deal is private.