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VIDEO: Sitt calls commercial real estate market a “utopia”

Joe Sitt Thor Equities head, Don Peebles see continued market strength

Josef sitt

 

A growing number of observers reckon the real estate market is heading for a correction in 2016, but Joe Sitt and Don Peebles are having none of that.

Peebles, head of the Peebles Corporation, believes demand for apartments is stronger than people think. “There’s a lot of pre-construction sales, and those sales have not gone to record yet, ” he told Bloomberg.

Joe Sitt, of Thor Equities, is similarly optimistic about the U.S. commercial real estate market. “It’s actually, right now, utopia, ” Sitt said. “What do I mean by that? You’re still not peaking in terms of where the rents are as compared to where the prior peaks were.”

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Read the full story at The Real Deal, by Konrad Putzier  

Listen to his reasoning in the video. [Bloomberg]

 

 

READ MORE: Thor Equities

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Joseph Sitt’s Thor Equities has closed two new major deals. It has acquired a NoMad property from Extell Development located at 212 Fifth Avenue in Manhattan for $260 million in partnership with Madison Equities More…

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Joseph Sitt’s Thor Equities has put down $42.3 million for a retail co-op space on Manhattan’s Upper East Side located at 1114-1120 Madison Avenue, The Real Deal has reported. The retail space in the More…

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Joseph Sitt’s Thor Equities has acquired 30 Park Avenue in Manhattan’s Murray Hill section for $181 million, according to a report in The Real Deal. A drab brown structure located between East 36th and East More…

218-220 West 57th Street

Joseph Sitt continues to expand his real estate empire. – Joseph Sitt’s New York Based Thor Equities bought 218-220 West 57th Street for an undisclosed amount from David Steinberg and Jill Isaacs. The More…

 

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