Plot of land on Fifth Avenue to be sold for $275M - almost double 2011 price

Joseph Sitt's Thor Equities agreed to sell land on Manhattan's Fifth Avenue for $275 million, almost double the price the firm paid for the property in 2011, according to two people with knowledge of the agreement. Ceruzzi Properties, a Fairfield, Connecticut-based real estate investor, is under contract to buy the 300,000-square-foot site at 520 Fifth Ave., said the people, who asked not to be identified because the deal is private.

via http://www.crainsnewyork.com/article/20150625/REAL_ESTATE/150629920?CSAuthResp=1%3A273577460785266%3A220276%3A3%3A24%3Aapproved%3A17197602BED4350EB87E488DAC57E972&=