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Soho Building in Foreclosure | Real Estate News
Joseph Sitt of Thor Equities may be in deep trouble after defaulting on a $15 million mortgage for a Soho building at 350 West Broadway. Rialto Capital Advisors has filed foreclosure, with Sitt and Elyahu Cohen as guarantors—but Sitt’s only a minority stakeholder. Regal Ventures, run by Joey Cohen, claims it’s just managing the property, not owning it. The 10-story building, renovated in 2008 with commercial space once leased by Amazon’s AWS Startup Loft, is now vacant. This comes hot on the heels of Thor Equities’ big Manhattan acquisitions—adding to the drama in NYC real estate as legal…
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