search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aHarry Macklowe faces major losses on Miami, Midtown projectsHarry Macklowe faces major losses on Miami, Midtown projectsDavid Werner strikes $115M deal to snap up 100 Wall Street at big discountDavid Werner strikes $115M deal to snap up 100 Wall Street at big discount$1.8B in Parkmerced debt heads to special servicing$1.8B in Parkmerced debt heads to special servicing
New York

Tallying who won at 666 Fifth Avenue

Ranking winners, losers in wake of Vornado $707 million purchase of tower's retail condo

Sign Up for the undefined Newsletter

From the August issue: When Kushner Companies paid a record $1.8 billion for the aluminum-clad office building 666 Fifth Avenue in 2007, located between 52nd and 53rd streets, the market was still booming.

But less than two years later, Lehman Brothers had collapsed, and that 10-digit price tag seemed to be an outrageous reminder of a bygone era. Yet company CEO Jared Kushner continued to believe that the retail portion alone could be worth $1 billion. [more]

Tags
Carlyle GroupCrown AcquisitionsJared KushnerKushner Companies