Joseph Sitt’s Thor Equities purchased the former Tootsie Roll factory at 275 Park Avenue in Clinton Hill, Brooklyn, for $58.5 million, translating to over $334 per square foot. This price is a discount from the $67 million that Fairstead and Meadow Partners paid in 2019. The seven-story, 123-unit building, which also houses five commercial spaces, is fully leased. Rosewood Realty Group brokered the deal. Previously, Thor lost two Manhattan properties to foreclosure. Fairstead has been less active this year, but KKR recently agreed to buy a 327-unit Downtown Brooklyn building for around $240 million.
Joseph Sitt’s Thor Equities
