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Thor Acquires Scribner Building for $99M

NEW YORK CITY-The building, anchored by Sephora, includes 58,000 square feet of commercial office space and more than 12,000 square feet of commercial retail.

By Jacqueline Hlavenka | Updated on July 22, 2011

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 48th and 49th 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.

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