Thor Acquires Scribner Building for $99M

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.