NEW YORK CITY-It’s official: developer Thor Equities has purchased the historic Scribner Building at 597 Fifth Ave. in Midtown for $99 million from seller A&A Acquisitions, according to a property report from Real Capital Analytics. GlobeSt.com previously reported that the 12-story structure between 48^th and 49^th Streets was in contract for purchase by Thor in June 2011. It's in and area where asking prices were rumored at the time to be around $108 million. A&A Acquisitions originally purchased the building in July 2006 for $79.1 million, RCA data shows.

The building, anchored by Sephora, includes 58,000 square feet of commercial space and more than 12,000 square feet of retail. In a separate deal, Thor is also purchasing an adjacent property at 3 East 48th St. as a means to expand its retail portfolio, Joe Sitt, CEO of Thor Equities, previously said in a statement.

“Some neighborhoods never go out of style, and you can’t get more ‘High Street’ than Fifth Avenue in Midtown,” Sitt said last month. “The purchase of this beautiful and historic building represents a real jewel in Thor ‘s portfolio, and we’re excited to see how we can improve and build on this magnificent property.”