NEW YORK CITY-It’s official: developer ThorEquities has purchased the historic Scribner Building at597 Fifth Ave. in Midtown for $99 million from sellerA&A Acquisitions, according to a propertyreport from Real Capital Analytics. GlobeSt.compreviously reported that the 12-story structurebetween 48th and 49th Streets was in contractfor purchase by Thor in June 2011. It's in and area where askingprices were rumored at the time to be around $108 million. A&AAcquisitions originally purchased the building in July 2006 for$79.1 million, RCA data shows.

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

“Some neighborhoods never go out of style, and you can’t getmore ‘High Street’ than Fifth Avenue in Midtown,” Sitt said lastmonth. “The purchase of this beautiful and historic buildingrepresents a real jewel in Thor ‘s portfolio, and we’re excited tosee how we can improve and build on this magnificent property.”

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