Thor Snaps Up 5th Ave. Locations For NY Shopping Center

Law360, New York (December 5, 2011, 2:09 PM EST) -- Real estate developer Thor Equities LLC has bought from RFR Realty LLC four buildings on New York's Fifth Avenue near one of the city's most famous shopping districts, planning to tear down three to build a modern shopping center, Thor said Monday.

Thor, which targets underperforming properties in urban centers, said it would tear down three connected properties to build a single "architecturally significant" glass building for retailers, hotels and apartments. It did not disclose the terms of the deal.

The building adds to four other properties owned by New York-based...
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