Joe Sitt’s Thor Equities just wrote a $56 million check for a fully leased office-and-retail building in NoMad, locking down 1165 Broadway and pulling a tidy roster of tenants, from Aesop to Christian Louboutin and music publisher Primary Wave, into its Manhattan portfolio.
As reported by The Real Deal, Thor bought the 58,000-square-foot property from developer David Haddad for about $56 million, or roughly $965 per square foot. Thor’s chief operating officer Melissa Gliatta called the acquisition “a compelling opportunity to acquire a fully leased asset in one of Manhattan’s most resilient markets.”
The Building and Its Footprint
1165 Broadway sits at the corner of Broadway and West 27th Street and, according to the property’s marketing page, began life as the five‑story Coleman House hotel designed by Charles Mellon in 1867 before later being adapted for commercial use. The building’s leasing materials show full-floor office plates at roughly 10,884 rentable square feet and two ground-floor retail spaces, a configuration that helps explain the seller’s recent leasing momentum.
Tenants and What They Mean for the Block
On the office side, music publisher Primary Wave moved into the top floors last year, while Aesop holds the prominent corner retail space. Commercial Observer reported Primary Wave’s lease, the Aesop site confirms the NoMad boutique at 1165 Broadway, and business directories list Christian Louboutin at the building’s second-floor address. That tenant mix gives Thor both splashy retail visibility on the corner and a steady stream of office rent from upstairs.
Legal Context
The purchase lands while Thor is still working through lender disputes elsewhere in its portfolio. The Real Deal notes that Blackstone filed a foreclosure lawsuit in April 2025 over a $10 million mortgage tied to Thor’s 25-27 Mercer Street property, alleging about $9.5 million in arrears. That backdrop has some observers watching Joseph Sitt’s firm closely as it shuffles and rebalances assets around the city.
For NoMad, the deal is a reminder that smaller, fully leased buildings can still draw investor money even while bigger institutional players stay choosy. Expect Thor to lean on the property’s historic character and stable tenant roster as it rides Manhattan’s still-unfolding office-leasing recovery.
