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Brooklyn’s priciest sold home in 2016 was purchased by a developer

Thor Equities chief Joe Sitt dropped $11.36 million on this Gravesend house


Half of the fun of looking at the most expensive sold listings throughout the city each year is the grandioseness of it all—the sky-high apartments and resplendent turn-of-the-century townhouses that win over millions of dollars. But the most expensive house to sell in Brooklyn last year was, well, kind of a dud. Only one picture of the Gravesend property—a rather normal-looking house that traded for a whopping $11.36 million—exists online, and it shows nothing but a front angle of the house.

But apparently it caught the attention of one discerning buyer: developer Joe Sitt of Thor Equities, who the Post reports is the the one who dropped the hefty sum on the property. Sitt already owns a home in the neighborhood, the Post says, adding that the purchase was made for tax reasons. The two-story house was built in 1925, and commanded such a high price because of the neighborhood’s status as a hub for NYC’s wealthy Syrian-Jewish community and its proximity to the area’s places of worship.