Swatch makes bid for Takashimaya building

Swiss watchmaker Swatch is the only retailer to advance to the second round of bidding for the Fifth Avenue building owned by Japanese store operator Takashimaya. Sources say the building’s price is expected to range from $120 million to $130 million and that there are four or five other bidders, including real estate investment trusts SL Green Realty and Vornado Realty Trust. Takashimaya, which …