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Developer Joe Sitt Has Big Plans To Take the City By Dorm

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Thor Equities CEO Joe Sitt isn't planning to dormify the former Revere Sugar Refinery site he owns in Red Hook. But that seems to be pretty much the only place in the city Sitt doesn't want to turn into a dorm. He tells the Post: "The big ugly secret in New York is that we don't have enough student-housing stock, and that our universities need it if they are going to grow so they can be competitive with colleges out of state." And now that Sitt and Mayor Bloomberg are best buds, Sitt is unlikely to be blocked by red tape when he uses some of the $96.5 million in profits from his Coney Island deal to buy up NYC's dorms of the future. One possible purchase: struggling St. Vincent's. Be careful what you wish for next time, Greenwich Village.
· Ousted Coney Island developer Joe Sitt now looking to build dorms around the city [NYP]
· Joe Sitt coverage [Curbed]