Joseph Sitt's Thor Equities sold a Midtown development site at 520 Fifth Avenue to Ceruzzi Properties and an unidentified Chinese partner for $275 million, after purchasing it for $150 million in 2011. Ceruzzi, a Fairfield, Conn.-based real estate investor, plans to follow through with Sitt's plans for a 71-story residential, hotel and retail tower on the site, according to Bloomberg.
via http://therealdeal.com/blog/2015/06/25/sitts-thor-equities-sells-midtown-development-site-for-275m/
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