Published On: Wed, Dec 16th, 2015

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.”

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

Listen to his reasoning in the video. [Bloomberg]

 

 

READ MORE: Thor Equities

463 86th Street,   Brooklyn,   NY

Thor Equities closed two real estate deals this past week. It sold 463 86th St in Bay Ridge, Brooklyn, to the Zucker Organization for $5.7 million and bought 98 Morningside Ave in Harlem for $22 million from Baruch More…

212 Fifth Avenue

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…

Joseph Sitt 640x360

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…

30 Park Avenue

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…

 

Read more about: , , ,

About the Author

Wordpress site Developed by Fixing WordPress Problems