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597 Fifth Avenue

597 Fifth Avenue
New York, NY 10017
(212) 529-7417
Website
Office, Retail, Leasing/Rental

597 Fifth Avenue, also known as the Scribner Building, is a 12-story building between East 48th and 49th streets owned by Thor Equities, a privately held real estate firm founded in 1986 by Joseph Sitt.

Thor Equities bought the Scribner Building in June 2011 from A&A Investment Co. for $108.5 million. The deal also encompassed the adjacent building at 3 East 48th Street and 50,000 square feet of air rights. A&A Investment Co. bought the Scribner Building in 2006 for $79.1 million. The building features over 12,000 square feet of retail and around 58,000 square feet of office space.

597 Fifth Avenue was built in 1912-13 to house the Scribner's Bookstore. The building has subsequently housed Brentano's bookstore, a Benetton clothing store, and presently Sephora, a cosmetics retailer.

It was designed by Ernest Flagg in a Beaux Arts style. Among its many details are piers anchoring three large bays which include four medallions with busts of printers: Benjamin Franklin, William Caxton, Johann Gutenberg, and Aldus Manutius.
Thor Equities owns a string of properties along Fifth Avenue, including 445, 562, 564, 590 and 693 Fifth Avenue. In July 2013, Sitt made an unsuccessful $2.1 billion bid for the Empire State Building.

-JC

  • Address 597 Fifth Avenue
  • neighborhood Plaza District
  • borough Manhattan
  • owner Thor Equities
  • owner entity 597 SCRIBNER LLC
  • sales/marketing Thor Equities, Michael Worthman
  • Year Built 1930
  • square feet 52,727
  • block and lot 1-01284-0002
  • BIN 1035430
  • Event Retail Leasing
  • Address 597 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 13,000
notes
The Canadian-athletic apparel retailer signed a new 1-year lease at $400,000 a month.
  • Event Office Leasing
  • Address 597 Fifth Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 6,370
notes
The financial company signed a lease on the 5th floor.
  • Event Office Leasing
  • Building Name Charles Scribner's Sons Building
  • Address 597 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 6,364
  • Price per foot $ 62.00
  • Event Office Leasing
  • Building Name Charles Scribner's Sons Building
  • Address 597 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 6,364
  • Price per foot $ 62.00
  • Event Sales
  • Address 597 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 70,000
  • Price $ 99,000,000
  • Price per foot $ 1,414.29
  • Publication Date 09/01/2011
  • Event Date 07/23/2011
  • Party 1 A & A Acquisitions
  • Party 2 Thor Equities
notes
The property sold for $99 million. The building last traded for $79.1 million in 2006, when A & A Acquisitions bought it for $1,015 a square foot.
  • Event Office Leasing
  • Building Name Scribner Building
  • Address 597 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 8,121
  • Price per foot $ 52.00
  • Publication Date 03/01/2010
  • Event Date 01/20/2010
  • Party 1 A&A
  • Party 1 Brokerage HelmsleySpear
  • Party 1 Broker V. Spector, Jeff Tuller, Joel Nelson
  • Party 2 Galtere
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Mark Mandell, Ethan Silverstein
notes
The international commodities fund signed a seven-year lease for the building's duplex penthouse.
  • Event Sales
  • Building Name The Scribner Building and 3 East 48th Street
  • Address 597 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 77,097
  • Price $ 79,000,000
  • Price per foot $ 1,024.68
  • Publication Date 09/01/2006
  • Event Date 07/23/2006
  • Party 1 Edizione Realty
  • Party 1 Brokerage JLL
  • Party 1 Broker Thomas Beneville, Jay Miele, Nat Rockett
  • Party 2 A&A Investments
notes
The two properties sold for $79 million, or more than $1,000 per square foot. Originally built as the flagship location for Charles Scribner's Sons in 1913, 597 Fifth Avenue comprises 65,572 square feet; 3 East 48th Street comprises 12,335 square feet.
  • Event Office Leasing
  • Building Name Scribner Building
  • Address 597 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 12,482
  • Publication Date 06/01/2004
  • Event Date 04/22/2004
  • Party 1 Benetton
  • Party 2 Sephora
notes
Cosmetics co. signs 10-year lease for new site

06/08/2017
With apparel retailers feeling the squeeze from online competition, grocers, food halls and restaurant tenants accounted for five of the 10 biggest retail deals inked in the With apparel retailers feeling the squeeze from online competition, grocers, food halls and restaurant tenants accounted for five of the 10 biggest retail deals inked in the...
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