Thor Contracts To Buy Scribner Site at 597 Fifth Ave.

NEW YORK CITY-After buying out the Takashimaya building at 693 Fifth Ave. and partnering to purchase Goldman Sachs at 245 Fifth Ave., developer Thor Equities is now eyeing another trophy Midtown property. The company has contracted to purchase the historic 12-story Scribner Building at 597 Fifth Ave. And while a spokesperson for Thor declined to comment about the price of the deal to GlobeSt.com, a report in the New York Post says the building is going for $108.4 million.

Located between 48^th and 49^th streets, the building includes 58,000 of commercial space and more than 12,000 square feet of retail, with Sephora as its main anchor retail tenant. In a separate deal, the company is also purchasing an adjacent property at 3 East 48th St. as a means to expand its retail portfolio.