597 Fifth Avenue | The Real Deal New York

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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

06/29/18
...came to Thor’s rescue in May at 597 Fifth Avenue, a few months after Sephora moved out, in an area with widespread retail vacancy...

...came to Thor’s rescue in May at 597 Fifth Avenue, a few months after Sephora moved out, in an area with widespread retail vacancy...

06/08/17
...million a year in retail rent. 4) Lululemon Athletica, 597 Fifth Avenue, Midtown -- 13,000 square feet The Canadian-athletic apparel retailer, which is expected to open the...

...a one year lease with Lululemon Athletica at 597 Fifth Avenue for an undisclosed price. Moves by Sitt over the past two years to try...

05/22/17
...597 Fifth Avenue (inset: Joseph Sitt) Lululemon Athletica is in talks to take 8,000 square feet at Thor...

03/21/17
...From left: 530, 590 and 597 Fifth Avenue and Joe Sitt The clock may be working against Joseph Sitt as his Thor...

05/31/16
...assets Thor is looking to sell such as 597 Fifth Avenue and 590 Fifth Avenue as well as the retail portion of 530 Fifth Avenue, which it...

05/17/16
...Fifth Avenue. It’s shopping buildings at 134, 590 and 597 Fifth Avenue and the retail at 530 Fifth Avenue, which it co-owns with General Growth Properties. The...

05/04/16
...Street building. Thor is shopping buildings at 134, 590 And 597 Fifth Avenue and the retail at 530 Fifth Avenue, which it co-owns with General Growth Properties. The...

05/02/16
...property. Thor is also looking to sell 590 and 597 Fifth Avenue as well as the retail portion of 530 Fifth Avenue, which it co-owns with General...

03/26/15
...York, Thor's portfolio includes such retail sites as 597 Fifth Avenue, 693 Fifth Avenue, 685 Fifth Avenue and 680 Madison Avenue, according to the company's website. Earlier this...

04/26/12
...streets, as well as the Scribner Building at 597 Fifth Avenue, between 48th 49th streets. — Additional reporting provided by Katherine Clarke and Adam Pincus...

...million last July for the Sephora building at 597 Fifth Avenue between 48th and 49th. The broker noted that Sitt wants $10 million to $12 million a...

...Chicago to Mexico City is an historic prize: 597 Fifth Avenue. The former home of Charles Scribner's bookstore, the 12-story building, which Sitt bought from...

07/21/11
...on the purchase of the Scribner Building at 597 Fifth Avenue from A & A Acquisitions for $99 million, according to a deed recorded with the...

06/15/11
...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...

04/18/11
...has 19 agents and a few property listings, including 597 Fifth Avenue near Rockefeller Center, but focuses primarily on retail and commercial tenant representation. With the...

...is selling the former Scribner's bookstore building at 597 Fifth Avenue and a building at 3 East 48th Street. Between the two is 50,000 square feet of...

07/26/06
...The landmarked Scribner's Building at 597 Fifth Avenue and a small office building around the corner at 3 East 48th Street have sold...

12/07/05
...is selling the former Scribner's bookstore building at 597 Fifth Avenue and a building at 3 East 48th Street. Between the two is 50,000 square feet in...
  • 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
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