NEW YORK CITY-Six weeks after placing the winning bid on the former Takashimaya Building at 693 Fifth Ave., Thor Equities has closed on the deal. The developer is paying a total of $200 million to buy and upgrade the 97,500-square-foot retail and office property. The Wall Street Journal reported last week that the purchase price accounted for $142 million of that total.
Concurrently with closing the 693 Fifth deal, Thor on Tuesday announced the start of a renovation campaign that will turn over the 20-story property’s first eight floors entirely to retail space. The fa
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