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Report: Wharton's Sutton and Thor Equities' Sitt to sell NYC property for $400M

A joint venture of Wharton Properties LLC's Jeff Sutton and Thor Equities LLC's Joe Sitt agreed to sell a New York retail building for $400 million, The Real Deal reported, citing people familiar with the transaction.

The buyer is a partnership between Turkish developer Bilgili Holding, Deutsche Finance and German pension fund BVK.

The 11-story building at 530 Broadway in Soho is leased by retail tenants including Skechers and Club Monaco.

Representatives for Wharton Properties and Thor Equities declined a request for comment by The Real Deal. There was no broker on the sale.