Joe Sitt’s Thor Equities sold nine adjacent townhomes at 525-541 Atlantic Avenue in Boerum Hill, Brooklyn, for $25M. The portfolio, known as Atlantic Gardens, includes 24 rental units and 32,000 square feet of retail space. Thor purchased the properties in 2013 for $23M. Tenants include Choco Mania, Banhmigos, Midtown Florist, and Hops Hill. Boerum Hill has seen rising retail activity near the Barclays Center, though average Brooklyn retail rents remain 15–30% below pre-pandemic levels.
Joe Sitt’s Thor Equities
