Joseph Sitt’s Thor Equities has acquired yet another Manhattan rental apartment building, this time paying $37.4 million.
Located on the Upper West Side between West 101st and 102nd Streets, at 840 West End Avenue has 47, 800 square feet over six floors. There are 39 apartments and two doctors’ offices.
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The building comes with 13, 000 square feet of unused air rights for upward additions. It was purchased by its current owners back in 2003 for only $13 million.
About the property Sitt said in a statement that, “with its picturesque location on tree-lined 101st Street and elegant architecture, 840 West End Avenue is a classic Upper West Side pre-war property.”
“The property represents a unique and valuable long-term asset for our growing rental portfolio, ” Jonathan Fishman, executive vice president at Thor, stated on Facebook.
Referring to the Upper West Side Joseph Sitt said, “The neighborhood is ideal for families seeking a quiet reprieve from the hustle and bustle of midtown without sacrificing easy access to all that New York City has to offer.”