Published On: Tue, May 5th, 2015

Joseph Sitt Buys 526 West 111th for $30 Million

Thor is expanding into Manhattan's Morning Side Heights neighborhood.

Josepf Sitt 526 West 111th St.

Joseph Sitt’s Thor Residential will acquire 526 West 111th St., a residential building, for $30 million, The Real Deal has reported.

Located in Manhattan’s West Side Morningside Heights neighborhood, 526 West 111th St. was built in 1925 and encompasses 43, 145 square feet of space. It sits on a 9, 948 square foot lot. There are 44 rental units over its 6 floors.

The new owners will be able to take advantage of another 16, 000 square feet of air rights should they wish to expand the property.

Thor Residential’s co-head Alan Klein told TRD that this acquisition is part of the firm’s broader strategy of expanding its investments in the Morning Side Heights area.

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