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New York

Thor Equities to buy the Scribner Building for $108.5 million

Joe Sitt’s Thor Equities is in contract to purchase the Scribner Building for $108.5 million, according to the Post. The 12-story plus penthouse building at 597 Fifth Avenue, between 48th and 49th streets features over 12,000 square feet of retail and around 58,000 square feet of office space.

The deal also encompasses the adjacent building at 3 East 48th Street and 50,000 square feet of air rights.

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Leading beauty retailer Sephora is the current anchor tenant in the landmarked interior.

“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,” Sitt, the CEO of Thor, said in a statement.

The building last changed hands in 2006 for $79.1 million. A & A Acquisitions bought the tower, which went for $1,015 a square foot. [Post]

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Joseph SittThor Equities