Published On: Tue, Oct 21st, 2014

Joseph Sitt Picks Up 3 Williamsburg Properties to Cobble Retail Project


Joseph Sitt’s Thor Equities has purchased three Williamsburg properties for an estimated $17.8 million, with the idea of turning the site combined into a 10, 000-square-foot retail development, the Commercial Observer reported.

Sitt closed the deal back in August, paying $14 million for 124 North 6th Street and $3.75 million for 126 and 134 North 6th Street, both between Bedford Avenue and Berry Street.

Their promo reads:

In the heart of Brooklyn’s most popular and expanding neighborhood, near the corner of Berry Street and North 6th Street, 130 North 6th Street offers the opportunity for retailers to build-to-suit. With the resurrection of Williamsburg in the past few years, an increasing number of New York residents and retailers are looking to possess space in the quaint but ever-bustling neighborhood. 130 North 6th Street is located in an extremely desirable area, which has recently become an epicenter of arts, culture, entertainment and residential development in Brooklyn and New York City as a whole.

The Thor’s website says the plan is for a two-story, retail project, with 5, 000 square feet on each floor. The project, 130 North 6th Street, has 50 feet of front space. They will be seeking retail, retail showroom or restaurants for tenants.

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