Joseph Sitt Biography
Joseph Sitt was born near Coney Island, Brooklyn in 1964. He received his B.S. from New York University's Stern School of Business and founded Thor Equities in 1986 before graduating from business school. Sitt began working at a young age manning flea market booths at the Aqueduct and Roosevelt racetrack parking lots in the New York City area. Sitt was bothered by the lack of retail available at age 11 when his only choice was to go to Manhattan to get an Atari computer because he couldn't get it in Brooklyn.
He picked the name Thor for the company name because he was an avid Thor comic book fan and thought it would fit his "concept of being the protector of the cities."
His first investment was a property sold at tax auction in the on East Tremont Avenue in the Bronx, a chronically under served retail area, where he built a one-story retail structure with money from "family, friends, roommates, parents of roommates." He proceeded to secure national retailers Rite Aid Pharmacy and Payless Shoes after convincing them of the value of this location.
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