NEW YORK CITY-Thor Equities, a development and management firm, has confirmed to buy three linked buildings located at 516-520 Fifth Avenue on 43rd street for an unrevealed price. The company intends to demolish the buildings and construct a new residential, hotel and retail complex spanning 350,000 square feet on the site. It has already begun discussions with residential developers and hotel companies. However, it requires financial backup for the $250 million project.
Developer RFR is the seller of the properties. For the full story, go to Wall Street Journal .
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