Thor Equities Closes on Warhol’s Old Space for $28.4 M.

Thor Equities has officially closed on 158 Madison Avenue.

Andy Warhol’s former workspace went to Joe Sitt’s firm for $28.4 million, according to city records.

It's common knowledge that Mr. Sitt and Citi Habitats founder Andy Heiberger are developing a condominium at the site that will be called Sundari Lofts and Tower. There will be a total of 50 condo units once the project is completed.

In 1981, Andy Warhol made 158 Madison the fourth outpost of The Factory, his renown laboratory. Following his death, the site became the headquarters for The Andy Warhol Foundation.

Now it looks like Mr. Sitt and Mr. Heiberger are building a Miraval Living complex for the downtown set.