Lois Weiss

Lois Weiss

Real Estate

Joe Sitt does downtown, buys retail space near WTC

After buying up numerous retail properties in the prime Fifth Avenue and Soho corridors, real estate magnate Joe Sitt has turned his sights on downtown, The Post has learned.

Sitt, the head of Thor Equities, has contracted to pay $35.5 million for the retail site at 120 Greenwich St. on the corner of Albany Street, just south of the World Trade Center and next to the eastern side of the W Hotel, sources said.

There are already buyouts in place for the current retailers, Blue Planet Grill and an Asian Fusion Spot, sources added.

There are three commercial condominiums totalling 4,683 feet on the ground and 863 square feet in the lower level, according to Costar.

There’s also 208 feet of frontage that wraps three sides of the building and offers signage opportunities to catch the eyes of 18 million annual passersby.

With the WTC store lineups getting sorted out and a slew of other retailers set at Brookfield Place and along Broadway, area retail rents are hitting several hundred dollars a square foot — a big jump from the less than $100 this building’s tenants were paying under prior leases.

Sitt could not be reached for comment.