condrain company ( 1983 ) limited is a sewer and watermain contractor in north america .

condrain was founded in 1954 by brothers originally from sora , lazio , italy , alfredo de gasperis , angelo de gasperis , and antonio degasperis , as a concrete and drain company .

condrain later expanded into land development and produced other related companies .

condrain conducts business mainly within the greater toronto area , the golden horseshoe , western ontario , the ottawa region as well as in other provinces and the united states .

companies in the condrain group construct roads ; supply recycled and virgin aggregate materials ; produce concrete pipe , precast units and lighting poles ; manufacture valves and fittings ; install gas lines , power lines , fibre optic cables , and street lighting ; build houses and commercial and industrial buildings ; and develop large tracts of land for community living .

other related companies have included broadband communication , vineyards , such as vineland estates in the niagara region , and built golf courses .

condrain

condrain services a vast area of ontario , with a focus on the golden horseshoe .
as canada’s largest and leading site servicing contractor , condrain believes we have a . .
condrain installs over 120 , 000 m of sewers and watermains in any given year .
metrus development is established to plan and develop residential and commercial properties under the condrain brand .
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condrain is committed to the health , safety and well - being of all our employees . .
hailing from sora , italy , three young brothers opened the doors to condrain in toronto circa 1954 .
condrain specializes in solving water and wastewater issues for municipal agencies and private developers . more . . .
the cornerstone of the condrain group of companies , condrain was established in 1954 and focuses all of its efforts on installing high quality sewers , tunnels , and water mains to service both public and private sectors .
condrain founders fred degasperis , left , and tony degasperis are photographed in their offices . the brothers founded several companies , including condrain and aspen ridge homes , and are legends in the development community in the gta .
constrada is established by jim de gasperis to add road building to the vast list of condrain group’s abilities . the company flourished and was eventually absorbed by condrain group where road construction is a large part of the business .
for more than half a century , condrain has built the clean water and safe sewage infrastructure that is vital in creating and sustaining ontario’s communities . from source to tap and back , condrain offers an unparalleled capacity to perform .
for more than half a century , condrain has built the clean water arteries and safe sewage veins that are vital in creating and sustaining ontario’s communities . from source to tap and back , condrain offers an unparalleled capacity to perform .
condrain’s vertically integrated core infrastructure development services are being leveraged across a wide variety of industry sectors . more . . .
during an interview with citylifetv , jim degasperis of condrain group categorizes ferrari as one of the best manufacturers in the world .
degasperis called his little company with the pick - up truck , concrete and drain ltd . — better know today as condrain .
under the condrain umbrella there are today about a dozen other companies specializing in some aspect of the building business — including aspen ridge .
together @ aquatechdpp @ dg _ _ group # condrain & # gems are our # conservationgala guardian sponsor . ty ! # sustainthecredit urltoken
a key service differentiator is in condrain’s ability to assist clients in financing , designing and maintaining their infrastructure development projects . more . . .
the second generation is taking over the executive positions in the family firm . cousins jim and romeo are now co - ceos of condrain group .
the herridge feedermain 2100mm cpp , contract # 3 for the region of peel was awarded to condrain in january of 2009 . more . . .
condrain was awarded the first phase of this project in february 2010 and second phase in december 2011 . it involved the disentanglemen more . . .
the new community of erin mills begins development . this is condrain’s first project with cadillac developments and the beginning of exponential growth for the company .
should be starting on monday , in either aurora or markham , with # condrain . words cant describe how amped i am right now . # roadtolocal793
at condrain we believe your work stands for who you are , it speaks volumes and is the lasting symbol of your vision , passion and work ethic .
at condrain , we believe that employees are the backbone of our business and our number one priority is to provide them with a safe and healthy work environment .
woot woot . day 3 # nashcon lets do this . whose still awake and got any energy left . i know i don ' t . # condrain urltoken
please fill out the form below and we will get back to you as soon as possible . condrain will use this information only for the purpose of responding to your inquiry .
condrain is one of the most experienced sewer and watermain contractors in north america with 60 years in the business . it is also the largest contractor of its kind in canada .
started more than 50 years ago as a family business by the three degasperis brothers , the condrain group today is one of canada’s largest water main and sewer contractors . and there are some big changes coming , ones that will make condrain an even better option for its clients and that will allow the company to thrive as it enters its next 50 years .
census records can tell you a lot of little known facts about your condrain ancestors , such as occupation . occupation can tell you about your ancestor ' s social and economic status .
strada aggregates and strada crush are open to provide more convenient methods of collecting aggregate material for condrain group and other clients . these two companies become leaders in regards to ontario’s recycling initiatives .
great turn out again at the # gc . # welcome to first time attendees : @ regionofpeel ; # condrain ; # snyderconstruction ; and , # landdecor . # digsafe # callorclickbeforeyoudig urltoken
protecting our resources today , for tomorrow environmental protection is a fundamental component of any infrastructure project that we undertake . at condrain , our goal is to support our clients in cre more . . .
condrain gets its first 100 lot project and the company begins to grow and move forward at a faster rate . they began servicing significant acreage each year in the niagara region and eventually built 10 subdivisions there .
census records can give you a fascinating window into the day - to - day lives of your condrain ancestors - like hours worked per week , level of education , veteran status , employers , and more .
condor properties is established . the company acts as one of condrain’s real estate development bodies ; it manages / leases industrial , office , medical , and retail properties making up over 5 . 6 million square feet .
founded in 1954 by alfredo , angelo , and antonio de gasperis , condrain , a humble yet hard - working company flourished into a corporation that sets the benchmark for quality , expertise , safety and market . . .
helping our clients achieve their canadian dreams is at the heart of the condrain legacy . we’re driven to making sure our clients achieve their goals and objectives in all aspects of core infrastructure construction , from small to large and from beginning to end . from conceptual design and engineering , to finance and construction , we make projects come to life . a tenacity instilled by our founders to deliver projects has catapulted condrain to the forefront of ontario’s core infrastructure sector .
now celebrating 60 years in business and originally founded in 1954 , condrain group has become one of the largest and most successful infrastructure construction companies in north america . today , the company’s business interests include community development , site servicing , municipal capital works , water and sewer infrastructure , and storm water management . condrain group is a vertically integrated business and manufactures a significant majority of the products they use including aggregate materials , concrete pipe and pre - cast units .
crowle fittings and supply ltd is acquired , which allows condrain group immediate access to : fittings , valves , hydrants , non - flexible dwd white pipe , cast iron test fittings , cast iron saddles for sewer connections , and more .
at condrain we are committed to responding to all inquiries ; however , from time to time it may take us a little while . as part of our sustainability focus and improving the communities in which we live and work , we ask that you use email . please use the submit inquiry below ; choose from the 5 drop down categories to ensure that your communication is directed to the best representative to address your inquiry . we thank you for your interest in condrain .
jim explains how condrain hires and trains employees , noting that there are various ways this happens . there is not a great deal of turnover , but employees do retire and need to be replaced , he says . as a pre - emptive measure , condrain arranges what could be seen as casual apprenticeships : “probably the biggest thing we do here is when we bring in younger people who want to work in the field , we put them with senior people and train them that way , ” says jim . “we find that’s probably the best way , because every company has its own philosophy . ” jim says that this is especially successful when preparing employees for supervisory positions . young engineers are being brought on board through a relationship that condrain has with seneca college . the unions where condrain’s employees come from conduct their own training for on - site workers such as operators and labourers . jim notes that the company also has an extensive health and safety training program .
a member of the condrain group of companies , metrus properties was founded in 1972 and since then has become an acknowledged leader in development and property management , with a portfolio of over 15 million square feet of industrial , retail and office space .
on a number of projects , condrain has utilized what is called a design - build approach , where the company can deliver turnkey operations to its clients , taking care of an entire project from start to finish . as an example , romeo cites the work that condrain did in alliston , ontario , where it built a water main specifically for the nearby honda plant . the main was 55 kilometres long , running from alliston to the town of collingwood , and condrain worked on the design with snc - lavalin , in addition to arranging financing and , of course , constructing it . “there’s no question that you cut through a lot of red tape and you create a lot of efficiencies through a design - build , ” says romeo .
the availability and diversity of its employees is one thing that allows condrain to respond quickly and get to work on projects . “we have a few different work forces and unions within the one company , ” romeo says . “because of the size of company that we are and the equipment we have , we can mobilize very quickly , within weeks . ” often , delays are due to waiting for clients to get permits or sufficient financing in place to get work started , especially on private sector projects . besides being of the country’s biggest sewer and water main contractors , condrain is also very big on earth moving , having ample equipment to get the job done . joining forces with con - strada , one of canada’s biggest road - building companies , will allow the new condrain to complete work even more efficiently .
an intrinsic and important aspect of the condrain group of companies core values and beliefs , is to give back . since immigrating to canada , the family has found support and success ; they understand the importance of giving back to the community that has allowed them to flourish .
condrain , which does from $ 350 to 400 million in business each year , is one of many companies under a holding company , explains romeo . its sister companies in the industry offer services such as the production of aggregate materials , lighting , valves and fittings ; installation of gas and power lines , fibre optic cables , and street lighting ; construction of residential , commercial , and industrial buildings ; and development of land for entire communities . the relationships with these other companies allow condrain to help clients get their projects completed with fewer headaches . “it makes us very vertical and very efficient , ” says romeo . “that was part of the plan over the years from the first generation . ” for customers , it’s a one - stop shop , he adds , though it requires a high degree of coordination between condrain and its sister companies .
hailing from sora , italy , three young brothers opened the doors to condrain in toronto circa 1954 . alfredo , angelo , and antonio degasperis proved themselves through hard work , expertise , and determination - a mind - set and work ethic they’ve carried through generations of their company . from humble beginnings , condrain has become one of canada’s leaders in infrastructure development ; but it wasn’t an overnight process . the brothers diligently worked to gain key contracts throughout the greater toronto area and provided incredible workmanship , quality , and professionalism to their clientele . their reputation as reliable craftsmen and businessmen soon spread , and the rest is history . condrain is still a family owned and managed company , and the legacy set by the founders still works to the future of this forward moving firm . it’s always been about doing the job right , and they will continue to do so for a very long time .
founded in 1954 by alfredo , angelo , and antonio de gasperis , condrain , a humble yet hard - working company flourished into a corporation that sets the benchmark for quality , expertise , safety and market penetration . the condrain group now represents an impressive collection of companies and services that work in an array of different construction industries and platforms . we build from the underground up ; that is to say that our focus is developing land from its most raw stages . we’ve always been about infrastructure , and delivering it in a form that’s efficient , timely and incredibly reliable , exceeding industry quality standards . the company and its divisions now deliver a 360 - degree development process . we can do it all . from earthworks to sewers and watermains , to environmental , fabrication , road building and to the installation of fibre , electrical and gas lines , condrain has become a vertically integrated infrastructure construction company .
an unusually short lifespan might indicate that your condrain ancestors lived in harsh conditions . a short lifespan might also indicate health problems that were once prevalent in your family . the ssdi is a searchable database of more than 70 million names . you can find birthdates , death dates , addresses and more .
aspen ridge homes is established . freddy and andrew de gasperis head the company and allow the condrain group to develop land from infrastructure all the way to family residences . aspen ridge homes are beautifully designed , offer high - end quality , fantastic features and finishes , and work to promote community in the neighbourhoods in which they are built .
the late ephraim diamond was a founding partner and chairman of cadillac fairview and liked to tell the story of fred degasperis coming to his office one day to collect blueprints to make a bid for condrain to install water and sewer lines for a new community cf was proposing on 7 , 000 acres west of toronto to be called erin mills .
it was a natural move , says jim . condrain would pick up work that included roads , and , acting as a general contractor , would sub - contract out the road work to con - strada , and vice versa . “it was sort of a hand - in - hand situation , ” he notes . a lot of the work that the two companies did was closely related , more so than with other sister companies . the transition has not been an effortless one , and it has included work on rebranding and more practical concerns , such as moving all of con - strada’s and condrain’s employees into the same office . jim says the goal is to get everything in place by this april .
jim explains that the company evaluates each job before it makes a bid , in order to see if it’s a good fit for their equipment and people . they know what their strengths are , and if the project involves earth work , pipe work , and gravel work , they pursue it , he says , as opposed to projects that are heavily weighted toward paving or concrete bases . “the good thing for us is that we have a big advantage in that looking at different projects , we look at our own company , condrain group , but also our sister companies . ” this means that projects can be picked up for which condrain will be the general contractor , but work will then be fed to sister companies .
condrain’s mainstay for past 50 years has been green - field development , but both jim and romeo recognize that the company’s focus may have to shift as long as the current economic slowdown keeps private projects on the backburner . the cousins’ experiences in working in the mushrooming suburbs around toronto building roads and doing sewer and water main work have allowed them to build up a strong portfolio in the private sector ; now , though , they are turning to capital projects to fill in the gap as new housing developments are put on hold . “since the company started , it’s been dabbling in capital work , even though it hasn’t been the core business , ” says jim . but this doesn’t mean that the new condrain will be left behind . “our equipment and our people are very versatile , ” he adds .
condrain , the contractor the three degasperis brothers started a half - century ago , is best known for building sewers , water mains , storm drains and other essential urban arteries . but its most prominent project in recent years involved a water body of a different variety . the company was part of the redevelopment of the friday harbour marina in innisfil , ont . , widening and deepening the shore of lake simcoe .
romeo notes that there has been a great deal of internal restructuring , and because of some strategic promotions , he and jim will have more support in the work they do . romeo says that increased staff involvement in the company’s planning will ease the process , “from concept to completion . ” many of the staff members who have been promoted have a long history with the company , and their expertise is a valuable asset , especially as the company continues to grow . “when my father and uncles started the business , there were only a few companies , ” romeo says . “my cousin and i are responsible for overseeing about a dozen companies . ” he explains that though their priorities lie with condrain , keeping tabs on all of the companies and how they work together means that he and jim need staff to keep condrain running smoothly . “we can’t be here every single day , every single hour , ” he says .
another change that’s been in the works throughout the past year has been the amalgamation of con - strada under the condrain brand . romeo says that one of the conditions that his father and uncles put on the transfer of control to him and jim was that the company’s operations would be streamlined . “it creates more efficiency for our customer , ” says romeo . “it’s one point of contact , versus two points of contact . ” says jim : “it’s the same people , just a little bit different direction . ”
when asked about the recently announced federal budget , and its inclusion of $ 12 million in infrastructure spending , romeo is cautiously optimistic . “we’re looking forward to seeing what’s actually going to happen , ” he says , but he adds that the stipulation that municipalities will have the match federal funds to a certain degree could prove a sticking point . however , the injection of money into the industry that condrain is a step in the right direction , he says , and it will get some people back to work .
jim says that when it comes to capital projects condrain will evaluate them the same way it does private projects , by ensuring the company’s people and equipment will get the job done better than any other company . “we’re not going to re - build the 401 , ” he says . instead , the company will seek out projects that would better be called “semi - green field , ” such as extending a highway , or adding to existing roadways with clover - leaf ramp structures . he says that condrain’s expertise in water main construction will likely be in high demand , as he estimates there will be many projects to build large feeder mains connecting one community to another . capital projects can be a little more complicated , but the core characteristics are the same , he says . “pipes are pipes and roads are roads . ” he emphasizes that the company will not have to change direction entirely , nor does it want to , and that perhaps 30 or 40 per cent of the gap left by diminished green - field work will be filled by public sector projects .
condrain’s employees , which at its peak time will number from 600 to 650 , are drawn from unions , and due to the seasonal nature of their work , the same employees do not have to return to the company year after year . but they do . this is something that romeo notes with pride : “even in these tough times , i’m confident that all our staff will come back and that our turnover rate is probably about 20 to 25 years , ” he says . “these are unionized employees , so that’s quite long . ”
brothers alfredo ( fred ) , angelo and antonio founded the degaspiris family’s group of companies , which includes condrain , commercial and retail contractor metrus and developer aspen ridge homes . while the family nature of the business was never in doubt ( when all three brothers were alive , they would meet on saturdays to scout out potential areas to develop in the gta ) , no one was just handed control . cousins romeo and jim degasperis worked in the field from their early teens and became co - ceos in 2013 ( romeo left in 2013 ) .
december 1954 , in toronto , ontario a small concrete and drain company incorporated under the name of con - drain by the founding de gasperis brothers . over the years this tiny business has steadily expanded into a major operation within the land development industry and has spawned many related companies along the way . since its inception , the company has outgrown no fewer than four head office locations . today , condrain conducts business within the greater toronto area , the golden horseshoe , western ontario , the ottawa region , as well as other provinces and the united states .
weather is somewhat of a factor in determining when the company will shut down each year , but this year , says romeo , the decision was based solely on availability of projects . “the volume is down , ” he says . “we’ve had a large number of projects deferred . that , based on talking with our customers and sitting down with our staff and scheduling out the crews , gives us so many weeks of work . that determines when we should start . ” he says that condrain doesn’t bring people on and off . “we try to keep our people throughout the year . that’s the way you keep good employees as well . ”
jim says he anticipates there will be a lot of workers available this year , though romeo notes that the company will start up later , hiring workers back well into february , rather than the usual start - up in mid - to late - january . “let’s just hope that the government puts a lot of work out and puts people back to work , ” says jim . “we’ll go from there . ” for a company that’s been around for as long as condrain , there are still some things that are out of their control . and one of these things is the country’s economy and the effects that a downturn can have on their business .
romeo thinks the days of coming across green - field developments with 1000 residential ready - for - service lots are coming to a close . “that’s going to force us to , no question , go into more capital projects , ” he says . in ontario , the government has mandated a drive towards intensification , meaning that green - field work is becoming harder and harder to come by , and instead there is an increased number of non - green - field projects , such as erecting condominiums in suburban areas . “in those kinds of applications , you don’t need a lot of sewers and a lot of roads , ” says romeo . condrain , then , has to look to make up the difference elsewhere . “we are definitely going to be focusing on capital projects and reconstruction projects , ” he says . “but we’ll
condrain and con - strada have left their marks on the communities where they work with more than water mains and roads . jim and romeo , and their employees , have been involved in making positive contributions in numerous ways . “almost every municipality that we’ve worked in , we’ve helped through some form of charity or contribution towards a hospital or a park , ” says romeo . jim says that their financial donations are most often focused on hospitals and other medical care organizations , but they have also given to churches and schools , in the form of both financial support and by lending their people and equipment to help with infrastructure projects , such as building parking lots . “we try to look at the communities where we’re actually working and give certain people a hand where it’s needed , ” says jim , noting that requests come across his desk nearly every day .
romeo degasperis literally grew up with the company . now in his early 40s , he is set to take over condrain , in partnership with his cousin jim degasperis , and oversee the next phase of its development . romeo notes that his father and two brothers , who in 1954 founded what was then con - drain in toronto , are ready to pass the reins to the next generation , though this decision was not made brashly . the family meets each saturday to talk about the past week , says romeo , so that they can share information about the various divisions and aspects of the business with one another . “saturdays give us that time to get together and catch up , ” he adds . about a year ago they began discussing a succession plan . it was decided that jim and romeo would be appointed to head the company , running it jointly , as co - ceos and president and vice - president , respectively .
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canadian golf magazine ranks eagles nest as # 25 course in canada and # 7 amongst all public courses . - summer 2013
the vaughan citizen ' s michael hayakawa talks about the score golf top 100 golf courses in canada 2010 , ranking eagles nest at 22nd .
score golf magazine ranks the 10 best public courses in ontario . eagles nest comes in 3rd in all of ontario , 1st in the gta , 2nd in southern ontario , and wins the toughest challenge .
score golf magazine ranks the top five public courses in canada . eagles nest comes in 3rd .
score golf magazine shares with us the 2008 top 100 golf courses in canada . eagles nest ranks at number 23 .
ontario golf magazine shares with us the 2007 top 50 courses in ontario . eagles nest golf sticks close to the top in the 8th spot .
score golf magazine
the dream of a group of toronto real estate developers , the majority of eagles nest was initially an old aggregate pit , with some natural rolling meadows and trees at the west . with largely a blank slate , toronto designer doug carrick created an inland links with massive faux dunes , acres of fescue and crafty , rolling greens .
toronto golf
when it came to first - place votes , more than half the panel ( nine ) gave eagles nest gc in maple their no . 1 choice . no other layout recieved more than three first - place nods .
the toronto star
you could ask , ' what ' s a chef like you doing in a place like this ? ' after all , the chef is renowned among the downtown food crowd and the place he ' s in is surrounded by acres of land that are still being bulldozed for new semi - detached homes .
globe golf
understated course architect doug carrick lets his work talk for him , and eagles nest makes a loud statement about his talents .
ontario golf
rather than relying on dramatic scenery or a wilderness setting , doug carrick sculpted eagles nest gc to emulate the rugged dunes typically found on the linksland courses of scotland and ireland .
doug carrick designed this public course , which opened on may 17 and charges a $ 190 green fee , and he has outdone himself . magazines might as well hand the best new course award to eagles nest . it ' s hard to imagine anything better .
fairways
the city above toronto will soar to new heights this spring when spectacular eagles nest golf club unveils its wings and ascends to its destiny as one of the country ' s best .
an old sand and gravel extraction site , eagles nest has been transformed by the accomplished canadian architect doug carrick into a compelling links - style track , its sand scars shaped to resemble eroded dunes .
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from 30 metres below the ground to 41 storeys above it , the degasperis family has left its mark on this town .
there is very little new building in the greater toronto area where fred degasperis and his two brothers , tony and angelo , haven’t made some contribution to its existence .
in the evening , tony degasperis does the delicate and intricate work of adding tiny details to the spanish galleons and british man - of - war model ships he builds in his home work shop .
you ' ll find fred and teresa degasperis whirling around a dance floor most friday evenings .
andrew and christene degasperis , shown in the showroom for the richmond street condo project , are the second generation of the family in the building business .
even if your house is 100 years old , it could very well be getting its water or shedding its sewage through infrastructure manufactured and installed by the degasperis brothers .
thousands of families are living in new homes , or relatively new homes , built by three of the degasperis children . tony’s son and daughter , andrew and christene , and their cousin “young freddy” — his dad is fred — operate aspen ridge homes , a building firm that is erecting townhomes in waterdown and luxury suites in studio 2 , a 41 - storey condo tower rising downtown on richmond st . , plus everything in between .
rumor has it that the youngsters named their new housing company in 1992 after returning from a fun weekend of skiing in aspen , colo .
they build their homes on land owned and developed by their fathers — as do dozens of other home building firms . the degasperis brothers are among canada’s largest private landowners .
he was a young immigrant from italy in the mid 1950s and had a small firm that poured and finished concrete for other builders . he was operating a cement - finishing machine near the end of a 14 - hour day on the freshly poured 18th floor of a highrise building being built by cadillac construction before it became cadillac fairview . the apartment tower was on sheppard ave . e . , long before the don valley parkway extended north of highway 401 .
fred was asleep on his feet and didn’t notice that the whirling trawls on the finishing machine were waltzing him ever closer to the open edge of the concrete shell . when the machine plunged over the edge , degasperis instantly woke up and staggered back from certain death .
his big concern was that he had rented the finishing machine and would now have to dig into his savings to replace it . about all his little company had in assets was an old pick - up truck with a few long - handled spades in the back . oh yes , and a small piece of land near grimsby , that in those days was considered the dark side if the moon .
degasperis had to sell that grimsby lot to replace the smashed machine and he was stunned . “here i am working 14 - hour days , seven days a week , and that land sitting there doing nothing had earned more money in a year than i did , ” said degasperis in a star interview .
that’s when a light went on above his head . buy land . buy as much and as often as you can .
and so he did . today , if you want to build housing subdivisions , or shopping malls , or industrial parks in the gta , even southern ontario , you’ll likely need to talk to a degasperis .
“fred came back to me and said he had studied our infrastructure plans and his company was prepared to build the system , but added , ‘of course you know it won’t work . ’
“i said ‘whaddya mean it won’t work ? we’ve had the biggest engineering company in the country design this infrastructure system . ’ and fred says to me . . . well , it’s simple . s - - - doesn’t flow uphill . ”
“i told him if he’s so smart , draw up your own plan , ” said diamond , an engineering graduate of queen’s university . degasperis has little formal education , but has a reputation in the construction industry for “reading the land . ”
“he brought a plan back to me and i showed it to our engineering firm . they confirmed his system would work and it saved us nearly $ 100 million dollars , ” diamond said in a star interview with this writer in 1986 .
today , the degasperis brothers own erin mills . they bought it from cf in partnership with the late marco muzzo ( the pemberton group ) , rudy bratty ( remington homes ) , eli reisman , ( great gulf group ) , larry robinson and former cf chairman jack daniels ( the daniels corp . ) .
the names muzzo and bratty can often be found in the same sentence with degasperis , particularly on development agreements . the three distinct families are partners in the gta’s biggest residential developments . together , under the joint - venture partnership metrus developments , they created springdale in brampton , which will have 75 , 000 residents in 22 , 000 homes when completed . they converted greenwood racetrack at lake shore blvd . e . and woodbine ave . , into an award - winning residential community which was north america’s largest urban redevelopment project .
vellore village in vaughan has more than 16 , 000 residents today and nearly 80 per cent of its population is roman catholic . that’s why one of ontario’s largest catholic churches — st . clare of assisi — was built in the middle of the new community . it can seat 1 , 200 people at a time and most of toronto’s biggest building firms contributed materials , labour or funds to its creation .
that’ll leave more time for the founding brothers to concentrate on their non - construction passions .
fred and his wife , teresa , are very much into ballroom dancing . whirling around a dance floor is where you’ll find them on most friday evenings — not as competitors , but as passionate hobbyists . starting each morning with 100 lengths in his indoor swimming pool helps fred cut a mean rug on friday nights .
tony’s thick hands are gnarled and raw from years of changing carburetors on 50 - ton bulldozers , but in the evening they turn to delicate and intricate work as he adds tiny details to the spanish galleons and british man - o - war model ships he builds in his home work shop .
the degasperis family has contributed millions of their dollars to a wide variety of local charities , from kids’ soccer teams to full - scale cancer wards and heart clinics in various hospitals .
many thousands have had their lives improved by their donations — although one fellow in vellore village curses the generosity of the degasperis brothers .
he doesn’t want his name used , but has complained that sunday is the only day he gets to sleep in , “yet those damn degasperis brothers won’t let me do it . ”
he is referring to his nearby neighbours — the three very large bells in the steeple of st . clare of assisi church .
the bells that announce mass on sunday morning are named saint alfredo , saint anthony and saint angelo .
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2018 started with a strong first quarter with demand outstripping supply with the office sector leading the main asset classes .
the real estate market is heating up . of course , some markets are hotter than others and have been seeing sales surge in recent months .
the commercial real estate market in canada remains red hot even as residential markets in many of canada’s largest cities cool off .
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the cousins plan to modernize the company to some degree , says romeo , by looking at different marketing strategies and designing a new logo . however , they will never set aside the company’s proud history . “we still have the grassroots that we were brought up with , ” says romeo . “both my cousin and i worked in the field , from the age of 12 or 13 years old . ” indeed , the cousins spent summers in the shop and out in the field , gaining experience in various positions , from pipe layer , to foreman , to machine operator , eventually working their ways into the office . romeo was trained as a civil engineer and came into the office full - time when he was 30 . jim jumped right into the business after high school , and worked away from home , in cities such as hamilton , st . catherines , and port dover for four years , running projects on - site .
shortly after jim was married at age 22 , the company launched its road construction arm , called con - strada , which he ran beginning in 1980 . “we felt at the time that we needed to be self - sufficient in roads , ” he says . the company started off small , doing a couple million dollars of business in its first year . con - strada grew by doing work for municipalities , and other industrial , commercial , and institutional projects . con - strada expanded into a group of companies , including strada crush , which recycles concrete and asphalt for use in construction projects ; strada aggregates ; and strada environmental .
the experience that the cousins gained working in the field is priceless . “if you’ve worked in all those positions , outside , for probably 18 years , the employees or the staff below you can’t pull the wool over your eyes , ” romeo notes . “i can drive by a worksite and basically pick out , from a distance , things that are not right . no school will give you that . that’s just practical experience . ”
“the employees are the backbone of the company , ” romeo says . as the owners of the company , he and jim have a responsibility to make sure that we have work and that things are running efficiently , but the daily grind of business falls on the company’s administrative staff and on - site workers .
this versatility is not an accident . romeo says that the company has continued to occasionally pick up capital projects in order to keep employees proficient in both kinds of projects and to keep administration staff up to speed on working in conjunction with government staff . “by having that benefit , we’re able right now to retool and chase capital work , ” says romeo . according to jim , the company has already landed some capital projects , and he is confident they will pick up more . if it wasn’t for the government work , jim says , they’d be pursing projects in other cities , such as ottawa , far from where the bulk of their work has been done up to now .
and there is a great deal to be done . romeo notes that it is not just new projects that will be built , but money will also go towards rehabilitation work . “in the city of toronto you’ve got a lot of old sewer , a lot of old bridges , a lot of old institutions that are failing , ” he says . another positive about this influx of capital work is that , according to romeo and despite what many in the public might believe , these projects often involve less red tape . “when a government project is ready to go , they’ve got all their t’s crossed and i’s dotted , ” romeo says . when the economy slows down , the government tries to catch up on infrastructure , he notes . projects that have already been designed and approved and are sitting on the shelf can be put into action quickly . “when it’s time to call the tender and go out for the work , all the red tape’s been dealt with , ” he says .
jim also lends his expertise and industry connections to help with the planning and construction of various community projects . he is currently helping raise money for the evergreen brick works project in toronto’s don valley , where evergreen , a national charity , is trying to raise $ 55 million to transform a historic site that was abandoned for decades into a venue that showcases green design and promotes urban sustainability . his experience working on large - scale projects allows jim to help work with planners and engineers to find ways to save costs , something that he notes can make all the difference in getting an important project completed . “sometimes it’s not what you make , it’s what you save .
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it is my great honor and privilege to assume the presidency of the philippine chamber of commerce and industry ( pcci ) ! i am grateful to my predecessor , mr . george t . barcelon , and the pcci board of directors for their contributions to the chamber as well as their leadership in propelling the chamber’s advocacies , membership services and international business relations to greater heights .
connect with businesses both here and abroad . pcci members get exclusive access with business forums , seminars , and other business matching events .
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established in 1978 , con - elco ltd , is one of the largest underground utility contractors in ontario . con - elco has extensive experience in both upgrading and installing new utility distribution systems for a number of utilities .
fellmore is a licensed electrical contractor in ontario ( ecra / esa license # 7002667 ) . fellmore is also an approved contractor with the ontario ministry of transportation , major city and regional municipalities in ontario and hydro utility companies in ontario .
concreate usl is a national construction company specializing in heavy civil construction and structure rehabilitation . while the projects we carry out are rarely straightforward , the philosophy at concreate usl most certainly is . we complete projects in a timely fashion , and we always deliver high quality results . of course , our employees are essential to our success . our fine work and reputation speak for themselves , whether the project includes the repair or new construction of a bridge in alberta , rehabilitation of a parking structure in ontario , or one of our recent successes : the construction of a luge track for the 2010 olympics .
dba engineering provides its professional services to a growing client base representing both the public sector ( federal , provincial , etc . ) and the private sector which would include architects , engineers , etc . our vision is
to be recognized as the leading engineering consulting firm in the disciplines of construction materials as well as earth and environmental sciences
having said that , we are looking for a number of top - quality civil and / or environmental graduating students . the primary function of the successful candidates will be to conduct soil and material testing . traditionally , we have hired for our markham location but this year we want students who are geographically flexible and would work at any site in canada . in order to apply , you must have daily access to a reliable vehicle , must be willing to travel and / or be relocated , have an interest in this type of work , have strong communication and interpersonal skills and not be afraid of
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work . the salary will be in line with what other organizations are paying ; taking into account your previous education and experience . all expenses incurred on behalf of dba will be reimbursed . this is an excellent opportunity to start your career with a world - class organization , gain some hands - on experience and make some money .
delcan corporation is a dynamic multi - disciplinary engineering firm providing systems and infrastructure solutions in three primary areas : transportation , water and information technology . since our inception over 55 years ago , delcan has contributed our award - winning integrated services to key projects throughout north america and in over 70 countries around the world with outstanding success . we have hired from seneca . responsibilities will include assisting in design development , prepare working drawings , writing specifications , as it relates to drainage and irrigation systems , sewers and sewage treatment facilities , water control systems and structures . additionally , the incumbent will read blueprints , estimate costs and materials and be willing to travel to client sites , as needed . career opportunities : civil engineering technologist


thor equities is a real estate development , leasing and management firm , with headquarters in new york city , london and mexico city .

thor equities owns property in the united states , canada , europe , russia , india and latin america , including london ’s historic burlington arcade and the palmer house hilton .

in new york city , thor owns retail , office and residential properties on fifth avenue and madison avenue as well as in soho , flatiron , the meatpacking district , and brooklyn including coney island .

thor also has investments in major u.s. cities including san francisco ’s union square ; georgetown in washington , d.c. ; robertson boulevard in west hollywood ; collins avenue ; lincoln road ; wynwood and the design district in miami .

thor offers investment vehicles for institutional investors through its thor urban property funds .

thor equities also has several subsidiary companies including retail advisory and tenant representation firm thor retail advisors .

thor equities

as coo of thor equities , melissa gliatta works closely with mr . sitt to expand thor equities ' global business activities .
thor equities adds to manhattan footprint with $ 590m deal for 530 fifth ave .
thor equities lands evan williams ' obvious corp . for 75k square feet at 760 market st
larissa belova is the head of capital markets at thor equities , a privately . . .
alexandra frangos is the vice president of retail leasing at thor equities , a . . .
melissa gliatta is an executive vice president at thor equities , a privately held . . .
jonathan scheinberg is an executive vice president at thor equities , a privately held . . .
scott sherman is the director of acquisitions at thor equities , a privately held . . .
joseph sitt is the ceo of thor equities , the privately held development and . . .
thor equities is also the exclusive representative of global retailers through thor retail advisors , a premier leasing agent for marquee properties worldwide .
alan klein is an executive vice president at thor equities and co - head of . . .
thor equities doubles its money with historic s . f . building sale - san francisco business times
cory elbaum is a managing director and co - chair of acquisitions at thor equities , . . .
562 - 564 fifth avenue are two adjacent buildings owned by thor equities , a privately . . .
pictured at top : a rendering of the proposed red hoek point . rendering courtesy of thor equities .
thor equities lands evan williams ' obvious corp . for 75k square feet at 760 market st
thor equities completes $ 375 million sale of the phelan bldg . in san francisco ' s union square
the time was right to sell the building , said thor equities chief executive joseph sitt in a statement .
joseph sitt ' s favorite wall of this year was created by john ahearn ( photo : thor equities ) .
the coney art walls featured street art like this piece from lady aiko . ( photo : thor equities ) .
as business boomed , sitt sold his interest in 2000 to concentrate on urban real estate through his company thor equities .
in a prepared statement , joe sitt , ceo of thor equities , noted aspen ' s attraction to luxury retailers .
thor equities is transforming one of its coney island properties into an outdoor museum called coney art walls — until autumn .
situation vacant : people’s playground leaders complain that thor equities’s properties off stillwell avenue are lying fallow for yet another summer .
thor equities completes $ 375 million sale of the phelan bldg . in san francisco ' s union square - costar group
joseph j . sitt is ceo of thor retail advisors and president & ceo of thor equities , a global real estate leader . thor equities owns prime property in the united states , europe and latin america , with a $ 10 billion portfolio and development pipeline totaling more than 20 million square feet .
thor equities is also affiliated with several companies including thor urbana which invests in prime retail real estate in mexico , the retail advisory and tenant representation firm thor high street advisors , and the luxury real estate brokerage firm town residential .
ethan goodman , director of new york planning & project management at fox rothschild ( land use council to thor equities ) , and catherine dannenbring , director of development at thor equities . , present to cb6 on december 1 . ( photo by noah phillips )
( ipe re ) thor equities aims to raise up to us $ 400m ( €378m ) for a mexican real estate strategy .
thor equities , owners of a prime property portfolio along luxury retail corridors worldwide . thor retail advisors leverages this relationship to achieve maximum results for each and every one of our exclusive clients .
laurence karsenti is head of retail leasing at thor equities affiliate thor retail advisors . ms . karsenti is based in thor’s paris office at 101 avenue des champs - élysées , where she is responsible for managing and overseeing the company’s growing european leasing business .
thor equities , has acquired its first property in spain , a prime retail property at 9 puerto del sol in madrid , company executives announced .
gladstone thinks he can pull off a similar strategy at 212 fifth , where he’s partnering with joseph sitt’s thor equities and building and land technology .
fundamentally , thor equities is a value engineering property investor . this means identifying assets with higher potential rents than are currently realized ; for example , thor equities may determine a residential complex could command higher prices per room if existing management only reduced costs and focused more intently on renter satisfaction .
acadia realty trust city planning commission historic house trust of new york city new york city economic development corp . red real estate the real estate group ny thor equities time equities inc . chris havens joseph sitt small business top stories coney island
serpentina , of part of multi - arts center coney island usa , was also in attendance at coney art walls ( photo : thor equities ) .
thor equities is hosting an open - air exhibition called coney art walls on its blacktopped lot at 1320 bowery on the west side of stillwell avenue .
thanks for your comment , joanne . we’re sorry to hear about macomb mall . when we googled it , a recent review on yelp turned up that referred to it as dying mall . also a thor equities job ad for a general manager to “instill thor equities culture into macomb mall…” good luck , roseville
realizing the need for a more international presence , thor expands in the european and latin america markets , opening offices in london for thor retail advisors , and forming thor urbana in mexico .
thor equities aims to raise up to us $ 400m for a mexican real estate strategy . the new york - based firm’s thor urbana affiliate is looking to raise capital to target retail and mixed - use schemes in mexico .
thor equities and taconic investment partners are selling samsung’s offices in the meatpacking district , located at 837 washington street , for a reported record price in the neighborhood .
red hoek point is being bankrolled by thor equities , which purchased the 280 richards st . property in 2005 for $ 40 million , as reported by curbed .
thor equities presents a new way to look at residential real estate . we emphasize the customer relationship , combined with our experience and strong understanding of the market .
and premier equities’ 63 greene street , women’s wear daily reported . hermès will reportedly . . .
thor equities is a leader in the development , leasing and management of commercial , residential , retail , hotel and mixed - use assets in premier urban locations worldwide .
rendering of the renovated and repositioned building at 816 - 820 w . fulton market . note the restored punched windows and new retail bays . image courtesy of thor equities
new york - based thor equities selected greystar to market and lease the residences at kirby collection , a 25 - story residential tower that’s expected to be complete in september .
elsewhere in the houston area , thor equities also is developing the shoppes at cinco ranch , which is anchored by a 100 , 000 - square - foot lowe’s store .
founded by president & ceo joseph j . sitt , thor equities is a new york - based leader in urban residential and commercial real estate development , ownership and management .
thor equities only invests in one subsector : major urban real estate . after starting in low - income retail buildings , thor spread to include luxury properties , affluent commercial centers , hotels , mixed - use assets and select suburban real estate .
the city had a competing vision and attempted to buy thor’s land , but thor did not accept the city’s offer . the negotiations continued and
thor equities has not yet secured an anchor tenant for the office space , but has had expressions of interest from several hotel operators . construction is expected to take 18 months .
summer 2009 : at thor equities flea by the sea ,
tons of fun
= lots of schlock . photo © tricia vita / me - myself - i via flickr
new york - based development firm thor equities has expanded its aspen footprint with the $ 5 . 4 million purchase of the south mill street building that houses aspen art gallery .
thor equities brings transitional design and innovative strategies to its portfolio of residential properties . with a seamless rental process and customer focused philosophy , we create an enjoyable lifestyle for all residents
mr . sitt is also chairman of town residential , chairman of thor urbana mexico , and chairman and managing principal of thor urban property funds .
thor also offers an investment vehicle for institutional investors and foundations seeking to invest in the global retail property market through its thor urban property funds .
curiously , a document on thor equities’ website from about 2012 — which appears to be promoting its storefront spaces on surf avenue — labels the vacant lots as “luna park extension . ”
thor equities also owns 152 geary st . and 444 jackson st . in san francisco . it is also in contract to buy its first property in oakland in the uptown neighborhood .
thor retail advisors capitalizes on its affiliation with global real estate leader thor equities to provide landlords throughout the united states , mexico and europe with individually developed strategic leasing campaigns , best - in - class tenant representation expertise , and a vast network of contacts .
may 31 , 2009 : we were not amused by auto supplies at thor equities flea market in coney island . in the background : shuttered balloon racing game in thor - owned henderson bldg . photo © tricia vita / me - myself - i via flickr
thor equities is a global full service real estate development and investment company whose capabilities include acquisitions , financial management , development , property management , and leasing . thor specializes in value - added investments in high street retail , shopping centers , malls , hotels and mixed - use urban projects . today , thor’s current portfolio of properties totals over
chief financial officer ( cfo ) mike schurer joined thor equities in january 2008 after holding the same position with the lightstone group , grand heritage hotel group , humphrey hospitality trust and crown golf properties . melissa gliatta was named thor ' s new chief operating officer ( coo ) thor in 2016 after serving as executive vice president since 2010 .
thor high street is an affiliate of thor equities that provides tenant representation , brokerage , and advisory services to retailers seeking to expand their businesses in high street areas around the world . they have offices in new york , london , paris , and mexico city .
thor retail advisors is an affiliate of thor equities that provides tenant representation , brokerage , and advisory services to retailers seeking to expand their businesses in high street areas around the world . they have offices in new york , london , paris , and mexico city .
sitt is the founder of thor equities , whose worldwide portfolio includes 160 properties worth a total of more than $ 10 billion . the company did not respond to a request for comment .
the rush for prime real estate in fulton market continues to tighten . thor equities is spending up to $ 50m in the district and betting fulton will become the next hot retail area .
seth siegel , kazuko morgan , george eckard , ryan venezia and adam lasoff of cushman & wakefield handled the disposition on behalf of thor equities , which acquired the phelan building in 2008 .
thor equities focuses on the growing residential market in new york city . through the acquisition and management of new york city rental apartment buildings , the company brings transitional design and innovative strategies to its portfolio of residential properties . with a seamless rental process and customer focused philosophy , along with an emphasis on preserving quality and history , thor equities creates an enjoyable lifestyle for all residents .
thor equities maximizes value and generates returns for investors by recognizing a property’s potential , reducing operating expenses , increasing tenant satisfaction , and leveraging market trends to maintain a long - term competitive edge .
thor equities was founded in 1986 by president & ceo joseph j . sitt . today , the company owns more than 160 properties throughout the united states , europe , canada and latin america .
thor equities owns , manages and leases properties in key global cities such as new york , london , paris , chicago , los angeles , san francisco , miami , mexico city and montreal .
at knight frank , ms . karsenti also advised investors for their leasing and capital market needs . her clients included thor equities , ponte gadea , invesco , bmo , and cbre global investors .
the chicago tribune reported last week that new york - based real estate investor thor equities , which already owns properties in the area , is adding two more buildings to its fulton market portfolio .
to meet the increasing need for large workspace required by technology companies , thor equities acted quickly to transform one of san francisco’s most cherished landmarks from small boutique offices into full - floor technology hubs .
thor was founded in 1986 by joseph j . sitt . he picked the name
zigun also railed against the lack of upkeep of thor’s properties along bowery street .
joseph sitt’s thor equities picked up three adjacent rental buildings near columbia university’s 17 - acre expansion of the manhattanville campus , paying $ 34 . 4 million to bennat charatan berger’s bcb property management , sources told
catsimatidis is not alone . developer joseph sitt , the chief executive officer of thor equities , has owned large swaths of undeveloped beachfront property near luna park and nathan’s famous for more than a dozen years .
they’re not the only ones to have departed thor in 2017 . bert dweck — who led business development at thor retail advisors and partnered on several thor investments— recently left for premier equities , a company headed by sitt’s occasional business partner yaron jacobi , though he remains as an investor in some of thor’s deals . meanwhile , retail leasing specialist michael worthman , whose name was famously plastered all over vacant storefronts , jumped to vornado realty trust this spring .
, madison equities and building and land technology . ( gold , who came in at no . 8 with . . .
sitt remains president and chief executive officer ( ceo ) of thor equities , though it is just one of his many professional titles . he is chief executive of thor retail advisors , chairman of the luxury services firm town residential , managing principal of thor urban property funds , and is in charge of other thor subsidiaries as well . he also founded and chairs global gateway alliance , a non - profit designed to rebuild the aging infrastructure in the northeast .
what ' s going on in downtown brooklyn is mind - boggling ,
said joseph j . sitt , president and chief executive of thor equities . the owner of the fulton mall , which opened in 1980 , thor equities has been making major improvements there , as well as developing two other sites in downtown brooklyn for a total of roughly two million square feet of commercial and retail space under its control .
new york - based developer thor equities has sold the landmark phelan building in san francisco for $ 374 million , according to a source familiar with the deal , more than doubling its investment in eight years .
as of december 2016 , the global private equity firm thor equities , llc has an international portfolio of more than 160 properties valued at greater than $ 10 billion . two - thirds of thor equities properties are in new york , which is also where the company is headquartered . the 30 - year - old company is a premier name in the major urban real estate markets , but it started from much more humble roots .
jared hart joined thor equities to lead the company’s european expansion with an investment strategy aimed to focus on well - located properties where there is an ability to enhance value by way of rental uplift or redevelopment . since starting at thor he has acquired approximately 2 billion euros of assets in europe . thor equities was founded in 1986 by president & ceo joseph sitt . the company owns prime properties in the us , europe , canada and latin america , with portfolio transactions and a development pipeline in excess of $ 10 billion
thor equities owns property in key markets throughout the united states , europe , canada and latin america , with portfolio transactions and a development pipeline in excess of $ 10 billion and totaling more than 20 million square feet .
joseph sitt founds thor equities . the company ' s first investment is a property sold at tax auction on east tremont avenue in the bronx , a chronically underserved retail area . thor builds a one - story retail structure and secures national retailers rite aid and payless , adding value to the property and location .
new york development firm thor equities , which bought the boogie ' s building last year for $ 27 . 5 million , has acquired the commercial property at 228 s . mill st . for $ 5 . 4 million .
“after upgrading 760 market and leasing the property to leading technology companies and retailers , we felt the time was right to sell this magnificent historic building , ” said joseph sitt , ceo of thor equities , in a statement .
thor sells mixed - use brooklyn property for $ 10 . 3m , double what it paid
surprisingly , neither the city nor the state consider thor’s undeveloped waterfront plot a brownfield site .
thor equities is a global full service real estate development and investment company whose capabilities include acquisitions , financial management , development , property management , and leasing . thor specializes in value - added investments in high street retail , shopping centers , malls , hotels and mixed - use urban projects . today , thor’s current portfolio of properties totals over 15 , 000 , 000 square feet ( 1 , 400 , 000 m
thor equities may be marketing a good chunk of its new york city portfolio , but the joseph sitt - led firm is still planning a 623 , 000 - square - foot office and retail development on the red hook waterfront .
thor equities through one of its two urban property funds purchased the building in 2008 for $ 130 million and spent $ 40 million renovating the site by creating wide - open floor space from the small offices that jewelers had occupied .
new york ( reuters ) - new york - based developer thor equities has sold the historic phelan building in san francisco for $ 375 million to a member of the prominent hotung family with deep roots in hong kong , sources said .
thor equities was founded 20 years ago when i was in college . i was a comic - book collector and thor was the norse god and the comic - book character that protected planet earth from the monsters that were destroying the buildings on the planet . that fit in with my concept of being the protector of the cities .
thor equity ' s design received positive reviews thursday , but locals still want their opinions heard .
rachel edmunds has over four years of experience in the retail real estate field , both on the principal and advisory side of the business . she began her career with thor equities , providing support to the company’s acquisitions and capital market teams .
san francisco — thor equities has sold the phelan building , an 11 - story office building in san francisco , to the hong kong - based hotung family for a reported $ 375 million . the building is located at 760 market st .
madison equities was launched in the 1960s by gladstone’s parents , kenneth and lucille , who made their initial fortune running a carpentry company in brooklyn .
thor urbana capital , a joint venture between thor equities and mexican developer gfa grupo inmobiliario , will invest $ 500 million into redeveloping real estate across mexico , according to a company release . the first project will be a full - block development along playa del carmen’s quinta avenida , spanish for fifth avenue , with high - end retail presence .
law360 , minneapolis ( august 26 , 2016 , 5 : 04 pm edt ) - - thor equities llc said thursday that it has sold a 11 - story mixed - use property in san francisco’s union square after an eight - year hold .
“puerta del sol already boasts the highest footfall in spain , and street rents are expected to grow significantly over the next few years due to the canalejas project and increasing retailer demand in the area , ” stated joseph sitt , ceo of thor equities .
last year , thor equities sold the phelan building at 760 market st . for $ 374 million . it also owns 152 geary st . , 440 jackson st . and 444 jackson st . , as well as 385 17th st . in oakland .
founder joseph j . sitt launched what would become thor equities in 1986 after buying a piece of property in the bronx at a tax auction . sitt thought the destitute neighborhoods of new york ' s poorer districts were ignored by major retail real estate groups , leaving a huge opportunity for the right investors . he picked the name
thor
in honor of his favorite comic books ; sitt particularly like the thought of thor as a protector of cities .
thor launches its residential division , acquiring four rental apartment buildings on manhattan ' s upper west side .
, which held onto the valuable retail space at ground level . ggp and thor bought . . .
thor recently inked a one year lease with lululemon athletica at 597 fifth avenue for an undisclosed price .
thor offers an exclusive portfolio of manhattan properties with coveted addresses , contemporary layouts , and classic renovations .
thor offers opportunities to individual and institutional investors , but with some caveats . institutional products include the thor urban property fund , a multibillion - dollar pool aimed at value - adding improvements to retail centers .
thor equities owns property in key urban markets throughout the united states , europe , canada and latin america , with portfolio transactions and a development pipeline in excess of $ 10 billion and totaling more than 20 million square feet . founded by president & ceo joseph j . sitt , thor equities is based in new york city with offices in london , paris , mexico city , new york and chicago . the company specializes in identifying and maximizing the value of its holdings , and generating strong returns for investors .
denizens of the people’s playground complain that thor equities — the real estate giant owned by controversial land baron joe sitt is giving coney island a bad image , and dread another summer of vacant , trash - filled lots at the heart of the amusement district .
thor equities , a global leader in the investment , development and management of premier retail and mixed - use properties , adds significant value to the company through its decades of experience and vast relationships with leading international retailers . furthermore , consultant gfa has provided thor urbana with unparalleled expertise in the design , construction and development of projects of the highest quality in mexico .
new york - based thor equities told the houston business journal that it is gearing up to break ground on the $ 125 million kirby collection , a million - plus - square - foot mixed - use project in upper kirby , despite the current oil slump .
during a public meeting at the miccio center on december 1 , 2016 , thor equities and their land use council , fox rothschild , revealed glossy development plans for 270 - 280 richards street . spanning 7 . 7 acres atop the former site of the revere sugar factory , thor’s office and retail complex dubbed “red hoek point” would jut 700 feet into the erie basin .
thor bought the land in 2008 . in may 2014 , thor ' s request to replat the property from commercial use to unrestricted was approved through the houston planning commission , the houston chronicle reported at the time .
prior to joining thor retail advisors , she graduated from the university of michigan with honors concentrating on entrepreneurship .
thor sells mixed - use brooklyn property for $ 10 . 3m , double what it paid – commercial observer
street . thor bought the land for $ 800 , 000 in 2006 , city finance department records indicate .
part of the ongoing strength of thor urbana has been the support of two internationally recognized real estate companies .
joseph j . sitt is president & ceo of thor equities . founded in 1986 by mr . sitt , thor equities owns prime property in the united states , europe , canada and latin america . he has served on the board of the real estate roundtable in washington , d . c . , the department of real estate at baruch college , and is a member of the partnership for new york city . he also serves on the board of the bedford stuyvesant restoration corporation , founded by robert f . kennedy and jacob javits .
thor equities is a global leader in urban real estate development , leasing and management , pursuing premier hotel , commercial , residential , retail and mixed - use assets in high - density areas . through its brokerage affiliate , thor high street , it is also a premier leasing agent for third - party property owners and exclusively represents global retailers in their search for prime urban locations in
“it ' s my passion to make coney island better , ” says the suddenly teary - eyed chief executive of thor equities . “it is the place where i played hooky and grew up . i want to give back to the neighborhood and to new york city . ”
thor equities paid $ 36 . 1 million for two properties , one on the 200 block of north peoria street and the other on the 800 block of west fulton market , the company said thursday . it plans to repurpose the empty buildings for office and retail use .
land for lease by thor equities : the stillwell parcels north of the city - owned parcels b & c and south of the bowery . parcel a is the former astroland , which is now owned by the city and was up for bid in the rfp . nycedc map .
thor also owns a significant portfolio of property in coney island . in 2005 , thor bought a parcel of land west of the amusement district in coney island for $ 13 million , and sold it 14 months later for $ 90 million . thor then bought more land on coney island along stillwell avenue as well as some boardwalk property including
edelson , sharon .
thor ' s joseph sitt , sitting high
. women ' s wear daily .
thor equities is a leader in the development , leasing and management of commercial , residential , retail , hotel and mixed - use assets in premier urban locations worldwide . the company is also the exclusive representative of global retailers through thor retail advisors , a premier leasing agent for marquee properties worldwide ; and a leader in residential sales and leasing through town residential , a fully integrated real estate services firm .
, the clothing retailer that mr . sitt founded four years earlier . she joined thor in 2003 as a vice president to manage properties for the company , according to thor , and was promoted to executive vice president in 2010 .
presented by thor equities , coney art walls is an outdoor museum of street art curated by joseph sitt and jeffrey deitch . located at 3050 stillwell avenue near the beach and boardwalk in coney island , the public art wall project offers live entertainment and popular eateries from across new york city .
, which signed a “soft” contract in january 2015 for about $ 800 million . thor backed out this . . .
thor also owns several luxury retail properties in mexico city on avenida presidente masaryk , which is known as mexico city’s fifth avenue , calderon , and la fontaine . thor has attracted such retailers as gucci and salvatore ferragamo to these properties .
the real deal reported exclusively yesterday that thor is marketing at least 10 manhattan properties . [ bloomberg ] – rey mashayekhi
helmed by ceo joseph sitt , thor infamously sold off downtown brooklyn’s albee square mall after a lucrative rezoning that he supported . thor bought the property in 2001 for $ 25 million and profited $ 100 million from the sale in 2007 .
with thor seeming to take little responsibility for the property , neighbors think the only remedy would be a new tenant .
thor equities has been actively acquiring properties in europe since 2008 . the company recently announced plans to rapidly expand in europe , mirroring the strategy used to grow its north american portfolio . thor equities focuses on key global cities including london and paris , as well as other prominent locations such as milan , berlin , munich , barcelona and madrid . the company owns a number of significant european properties including the burlington arcade in london , 51 - 53 boulevard haussmann in paris , and multiple buildings along paris’ famed avenue des champs - élysées as well as the boulevard de la croisette in cannes .
thor equities ' local investments include the palmer house hilton and oak street retail . its largest deal on the table , according to crain ' s , is a $ 37m offer for three buildings and a parcel of land owned by john r . morreale meat co . [ crain ' s ]
mr . polese is thor equities’ senior leasing professional , responsible for optimizing the asset performance of the company’s real estate portfolio . mr . polese joined thor equities in august 2003 , bringing over 25 years of real estate industry experience in acquisitions , asset management , financing and dispositions . he also possesses extensive national experience in shopping center development , having executed innovative expansion plans in regional malls , strip centers , outlet properties and downtown locations . prior to his role as a senior executive with thor equities , mr . polese served as executive vice president of real estate for urban brands , working for mr . sitt . he had previously been senior vice president for real estate for new jersey - based petrie stores corp . mr . polese graduated from rutgers university with a bachelor of science degree in business administration and political science . he is a member of the international council of shopping centers .
a little fun is a good thing — especially in the heart of america ' s playground . this summer , thor equities is bringing fun of the artsy sort to a blacktopped lot on stillwell avenue and the bowery , which sits smack in the middle of coney island ' s amusement district . …
currently , ms . taylor represents prominent new york city landlords including delshah capital , harbor group international , and premier equities . she has also worked with moinian group and malkin properties .
thor equities is a global leader in urban real estate development , leasing and management of commercial , residential , retail , hotel and mixed - use assets . the company ' s properties in north america are strategically located in major markets including new york , chicago , miami , los angeles , san francisco , washington , d . c . and houston , as well as montreal’s prestigious saint catherine street . thor equities maximizes value and generates strong returns for investors by recognizing a property ' s potential , reducing operating expenses , increasing tenant satisfaction , and leveraging market trends to maintain a long - term competitive edge .
mr . sitt founded women’s clothing retailer ashley stewart , expanding the company to 380 stores in over 100 cities . its phenomenal growth prompted many national retailers to take notice of opportunities in the urban marketplace . in 1998 , he decided to divest his interest in ashley stewart and focus exclusively on thor equities .
thor urbana currently owns more than us $ 1 . 4bn of assets , encompassing 14 projects and more than 1m sqm .
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thor retail advisors is a privately held boutique firm specializing in complex advisory services for luxury and high street retail transactions in key markets across the globe . founded in new york in 2010 by president and ceo , joseph sitt , thor retail advisors quickly expanded internationally , opening offices in london , paris and mexico city . thor retail advisors capitalizes on synergies with our affiliate company ,
it took joe sitt less than 30 minutes to agree to pay aby rosen $ 132 million for a trio of buildings at 516 - 520 fifth avenue in 2011 . it was a rapid - fire deal even for the thor equities ceo — who one friend described as new york real estate’s version of the tasmanian devil .
coney art walls is thor equities’ way of bringing life to an empty site in the core of coney island , while keeping the coney feeling and stretching it in new directions . the 2016 season is going to be an amazing summer , and i am extraordinarily happy that coney art walls will be a part of it .
tby talks to damian fraser , country manager mexico and head of latam equities for ubs , on wealth management , the profile of mexican investors , and the hindrances affecting the mexican stock market .
and michael schurer , thor’s longtime chief financial officer , resigned from his post this year to work primarily on investments in mexico under the umbrella of thor urbana capital . he was replaced by fess wofse , who previously served as cfo for apollo global real estate .
“we continue to believe strongly in the real estate market in san francisco , and 634 second st . presented us with an ideal opportunity to own a prime property in soma , the most in - demand office submarket in the city , ” said joseph sitt , ceo of new york - based thor equities , in a statement .
thor is currently doing abatement at the site , the company’s spokesperson said , with demolition to commence by the end of this year .
now i know macomb mall in roseville , mi is in such bad shape , thor eq . can’t even run a flea market !
however , the following month , the dob disapproved the application on the grounds of incompletion at the time of thor’s scheduled plan exam .
“we haven ' t finalized our plans for after the summer , ” said joshua greenwald , thor ' s director of public relations .
the new york - based firm’s thor urbana affiliate is looking to raise capital to target retail and mixed - use schemes in mexico .
thor equities has signed a contract to acquire its first property in italy , a 7 , 826 m² ( 85 , 000 ft² ) luxury retail , office and residential property at 26 via della spiga in milan , company executives have announced . according to an anonymous source , the acquisition is valued at approximately €163m ( $ 175m ) .
joe ' blight for spite ' sitt . if it was anyone but him in any other neighborhood , the city would have stepped in and done something . sanitation department will ticket a home owner if someone drops a cup in front of their house . thor equities dirties up a whole neighborhood , and gets away with it . how ?
our guess is that several bidders , including the soon - to - be designated winner , have already made inquiries about leasing thor’s stillwell property . during the reply period for the city’s rfp for a coney island amusement operator to bring rides and attractions to land newly purchased from joe sitt , potential bidders asked the city about the adjacent vacant lots . the contact info for thor equities and horace bullard was posted on the city’s q & a for all potential bidders to see .
' 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
a recap of thor’s unamusing flea in - fest - ation after we reported “memorial day weekend mania : thor equities coney flea in - fest - ation is a flop” ( may 27 , 2009 ) , thor brazenly went back to calling the so called fest “flea by the sea , ” both on their website and ads . and why not ? “festival by the sea” was indeed a flea market by the sea . even though the permit was for a “temporary fair” because the original application for a flea market was disapproved by the dob , the city did not enforce its own zoning against the illegal flea market in the amusement zone . “tons of fun” it was not . a salsa band playing two sets on saturday and sunday was the sole entertainment at what was wrongfully billed as “a uniquely entertaining and amusing flea market in coney island . ” we are not exaggerating . if you can stomach it , please view our complete flickr set of thor equities flea market .
cbre ' s steve rocher , kristen rabel and parker duffie are the office brokers . thor ' s george stanchfield is the retail broker .
community engagement means nothing if the input of the community cannot
be built into the project , estrada said to the thor representatives .
thor equities ceo joseph sitt founded the alliance last year to improve the state of big apple - area airports , which he called an embarrassment . among the groups aims are increased investment in aging airport infrastructure and overcrowding issues . as of january , sitt had invested $ 1 million of his own money into the venture . [ crain’s ] — julie strickland
thor equities is a privately held real estate firm founded in 1986 by brooklyn native joseph sitt . it invests in assets in the united states , europe and latin america with a focus on retail in major cities . it is known in new york city for its ownership and redevelopment of scores of retail properties in major shopping districts and corridors such as soho , madison avenue and fifth avenue . the firm has a retail brokerage arm called thor retail advisors . thor equities , which buys properties using several large investment funds , focuses on development and redevelopment of retail properties , to either lease up or sell . major projects include the ground - up construction and leasing to samsung of 837 washington street in the meatpacking district , in a partnership with taconic investment partners , as well as the 2010 purchase of the retail and office building at 693 fifth avenue .
the timing of thor’s signs couldn’t have been better . the short - listed respondents to the city’s rfp were reportedly in the city yesterday and today for meetings with the nycedc . if the bidders who didn’t make the short list have fire in their belly to come to coney island , now is the time for them to deal with sitt or bullard . given thor equities’ history of sky - high rents and onerous lease terms , we think the parcels will go to the most highly motivated bidder .
“the retail market and overall economy in milan has held up very well , with retail rents remaining stable along prime fashion corridors including via della spiga , due in large part to the city’s emergence as a global gateway destination attracting european , u . s . , asian , and middle eastern consumers , ” said jared hart , managing director of thor equities .
the purchase of 9 puerta del sol in madrid continues thor equities’ recent international expansion . the company’s european holdings also include 102 avenue des champs - elysees , 51 - 53 boulevard haussmann , and 65 - 67 avenue de champs - elysees in paris , as well as bond street house , 105 - 109 oxford street , and the burlington arcade in london .
thor equities , one of manhattan’s biggest property owners , has purchased a key corner of the montreal retail market . thor on friday confirmed that it has acquired a prime retail space at 777 saint catherine street , a historical building at the intersection of mcgill college avenue and saint catherine street that’s in the heart of montreal’s shopping corridor . the three - level building , which is occupied by banana republic , has 20 , 000 square feet of retail space and 6 , 000 square feet of office space .
the deal closed wednesday for north of $ 660 per square foot . thor plans to treat the portfolio purchase as an investment , sources said .
but the bigs at luna park said they have never even been able to get thor on the phone to talk about possible real estate deals .
thor urbana said it is aiming to attract between us $ 350m and us $ 400m from mexican retirement funds ( afores ) and international investors .
thor also created an investment platform to allow institutional investors to harness the growth trends seen in urban property markets worldwide . the thor urban property funds investors include investment banks , pension funds , top - tier college endowments , and foundations . the funds’ size is in excess of one billion dollars .
he has also represented many institutional landlords including the carlyle group , macklowe properties , acadia realty trust , highgate holdings , lehman brothers , empire capital , uba equities , mercer sunshine , venture capital properties and gould investors .
ms . edmunds has worked with many institutional retail landlords in new york including delshah capital , harbor group international and premier equities . she holds a bachelor of fine arts in musical theatre from point park university in pittsburgh .
mr . sitt is also ceo of thor retail advisors , a premier leasing agent and exclusive representative of global retailers in their search for prime locations ; chairman of thor urbana , which develops and acquires retail , office and mixed - use properties in mexico city , guadalajara , mérida and other mexican cities ; and chairman and managing principal of thor urban property funds , an investment vehicle serving pension funds , investment banks , college endowments and foundations .
in the private sphere , mr . sitt is the president and ceo of thor equities , a forward - thinking international real estate development company that specializes in value - added investments in mixed - use urban developments , hotels , shopping centers , and residential developments in the united states , europe , and latin america with a portfolio totaling more than 18 million square feet .
thor also owns 693 fifth avenue between 54th and 55th streets , as well as the scribner building at 597 fifth avenue , between 48th 49th streets .
thor urbana capital is a joint venture between thor equities and mexican developer gfa grupo inmobiliario . the company is based in mexico city and plans to invest $ 500 million into redeveloping real estate across mexico to capitalize on the country’s strong economic growth and real estate fundamentals . the venture’s first project is a full - block high end retail development along playa del carmen’s quinta avenida ( spanish for fifth avenue ) . target markets include metropolitan mexico city , guadalajara , querétaro , mérida , puebla , playa del carmen , and toluca .
since inception , thor retail advisors has attracted the best and brightest in the industry with longstanding executive level relationships at the most prominent international retail brands . diligence , vision , creativity , passion , exhaustive research and a relentless commitment to execution are all interwoven qualities that distance thor retail advisors from the competition .
ms . gliatta was named vice president of thor in 2003 , focusing on operations and management of the company ' s growing commercial real estate portfolios . she was promoted to executive vice president in 2010 . ms . gliatta ' s strong leadership and operation skills - developed during her time at ashley stewart - enabled her to attract a team of experienced and dedicated professionals to thor equities , and help grow the company into a full - service real estate firm with offices in new york , chicago , london , paris and mexico city .
not long after founding ashley stewart , sitt had a second revelation : the inner - city landlords renting to his stores were asking for far less rent than he—and other retailers , he suspected—would willingly pay . so sitt began buying up cheap properties in decaying urban areas and opening malls on them . thor equities eventually amassed an empire of about 14 million square feet in a dozen cities .
thor retail advisors was created to address the increasing global demands of many retailers and property owners for unparalleled retail advice and planning . specializing in both tenant and landlord representation , consultation and advisory services , thor retail advisors provides clients with a level of service , integrity and expertise that is unsurpassed in the marketplace .
with offices and dedicated teams in new york , london and mexico city , thor retail advisors is committed to ensuring client satisfaction across a seamless international platform .
as part of the controversial coney island rezoning of 2009 , thor equities ceo joe sitt got mayor bloomberg to rezone his surf avenue property in the amusement area for hotels of up to 30 stories . a century old music hall fell to the wrecking ball and a generic looking retail building went up in its place but thor’s hotels have yet to materialize . now sitt says he “needs some zoning changes” to build “a great big hotel” and a “stadium - style movie theater” on stillwell and bowery , according to a recent interview with ny1’s jeanine ramirez .
in order to meet these expectations , thor equities worked to open up the floors of this magnificent 1907 building . by eliminating small offices and showing the vast size of each floor , 760 market street immediately began to gain the attention of retailers , designers and technology firms . in addition , we created pre - built floors so potential tenants could visualize a set - up ideal for technology firms . thor also preserved the history of the property including restoring the original brick , mosaic tiles and marble lobby , while installing modern amenities and infrastructure throughout .
previously , ms . karsenti was head of retail and partner at knight frank in france , where she represented such leading companies as maje , l’occitane , vf group , thor equities , generali and axa . specializing in high street retail , she has leased flagship stores for top brands including uniqlo , pret a manger , zara , kipling , rimowa , opera gallery and 7 for all mankind .
a member of hong kong ' s renowned hotung family has acquired the phelan building in san francisco from new york city - based developer thor equities for $ 374 . 5 million , or approximately $ 1 , 256 per square foot - the highest per square foot price paid for a one - off major office building in the history of the san francisco market , according to costar information .
thor retail advisors collectively has a one - of - a - kind knowledge base with team members that have signed thousands of leases in their careers . the boutique culture of thor retail advisors allows the team to work closely together replicating our commitment to excellence in cities like new york , miami , paris or london .
the partnership had been a tense one for some time , with maloney booting gladstone’s wife , corcoran group broker marie - claire gladstone , as the exclusive sales agent — a move that did not sit well with the madison equities developer .
yet we saw police towing away ice cream carts belonging to vendors who lacked licenses . the little guys get their businesses shut down while thor gets this incubator project for his shopping mall . to people who say to us , the tents are pretty or it’s better than an empty lot , we say thor equities deliberately created the empty lots on stillwell in 2007 , when they evicted or bulldozed thriving amusements . remember the batting cages , go karts , bumper boats , mini golf , and climbing wall ? let’s bring ’em back to coney island in 2010 .