Empire State Realty Trust quickly unloads 1359 Broadway

Tony Malkin’s Empire State Realty Trust wasted little time offloading a Garment District office building as the company’s transaction spree continues. Joe Sitt’s Thor Equities purchased the property at 1359 Broadway for $218 million, the Commercial Observer reported. The deal for the 486,000-square-foot building breaks down to more than $448 per square foot. The sale comes a little more than a month after ESRT reportedly began marketing the 22-story office property, aiming for a deal around $225 million, or $462 per square foot. The deal was expected to involve the simple fee interest of the property at the corner of […]

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