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666 Fifth Avenue

666 Fifth Avenue
New York, NY 10103
(212) 894-7413|(212) 894-7410
Website
Office, Retail, Conversion
666 Fifth Avenue
The 1.5-million-square-foot office and retail development at 666 Fifth Avenue has been the subject of a number of record-setting deals. Kushner Companies bought the property for $1.8 billion in 2007, at the time the most ever paid for the sale of a single office building in the U.S. After the 2008 global financial crisis struck, in early 2010 Kushners $1.215 billion loan was send to special loan servicer LNR, in which Vornado Realty Trust would later take a stake. Kushner split the retail space into two condominiums, selling the smaller, 36,473-square-foot space to Inditex, parent company of fashion brand Zara, for $324 million or $8,300 per square foot on a blended basis, the highest price ever paid for commercial property larger than 10,000 square feet in New York City. Vornado bought a controlling 49.5 percent interest in the office condominium for $80 million in December 2011, and took the remaining 40,742-square-foot retail condo for $707 million in July 2012. The 39-story 1957 building, designed by Carson & Lundin, stretches from 52nd Street to 53rd Street and includes landmarked lobby artwork: Isamu Noguchis Ceiling and Waterfall installation. -NE
  • Year Built 1958
  • residential units 0
  • square feet 1,329,229
steven-roth-thumb
11/03/15
Vornado Realty Trust lauded a third quarter that saw it sign seven Manhattan office leases at asking rents of over $100 per square foot and...
Adriana Lima
10/07/15
Vornado Realty Trust signed Victoria’s Secret to a nearly 64,000-square-foot retail lease at 640 Fifth Avenue in Midtown, which will house the lingerie giant’s flagship...
steveroththumb
09/17/15
From his first job, building industrial buildings in New Jersey, to heading a company with a market cap of $17 billion, Vornado Realty Trust’s Steven...
From left: Jared Kushner, Steven Roth and 666 Fifth Avenue in Midtown
09/11/15
Development giants Steven Roth of Vornado Realty Trust and Jared Kushner of Kusher Companies are quietly preparing plans for a radical overhaul of 666 Fifth Avenue...
Albert Behler and 1301 Sixth Avenue-
05/06/15
International law firm Norton Rose Fulbright is moving one block west to Paramount Group’s 1301 Sixth Avenue, having signed a lease for 107,00 square feet....
03/16/15
Current reader favorites: 1. Robert Durst arrested in New Orleans 2. Robert Durst’s wife lists Fifth Avenue co-op 3. Sharing economy goes residential with micro-apartments...
Jared Kushner
03/14/15
It’s a testament to the state of the commercial market that Jared Kushner made his first call about buying the gleaming skyscraper at 666 Fifth...
SilverMoinianThumb
11/12/14
The National Basketball Association is moving into a sprawling new space at 545 Fifth Avenue. Tags: Fifth Avenue Retail, Joseph Moinian ...
markman-again
11/04/14
Glenn Markman, a Cushman & Wakefield commercial broker who negotiated leases on behalf of Spike Lee and the Brooklyn Nets and became one of the...
20140924_vornado_reit_feature
09/24/14
In April, Vornado Realty Trust announced that it would spin off more than 80 U.S. shopping centers into a separate publicly traded real estate investment...
uniqlo-1
08/21/14
Japanese clothing retailer Uniqlo renewed the lease for its 52,500-square-foot, three-level New York flagship space in Soho for the next 10 years, The Real Deal has learned....
zara
01/27/14
Spanish fashion chain Zara has inked a deal for a tri-level space on the corner across from a newly revamped Fulton Transit Center. Tags: Financial...
MichaelKorsHeadshotFbox
01/16/14
Designer brand Michael Kors has inked a 40,553-square-foot short-term lease at Milstein Properties’ 335 Madison Avenue, The Real Deal has learned. Tags: 335 madison avenue,...
adams-31FB
12/17/13
Developer Rockrose will move its headquarters from Midtown to a commercial condominium at 15 East 26th Street, which the firm just purchased from real estate...
From left: Marc Holliday, Jeff Sutton, 650 Fifth Avenue and Ayatollah Khamenei
11/11/13
A joint venture between SL Green Realty and Jeff Sutton’s Wharton Properties has acquired the long-term leasehold for the retail portion of 650 Fifth Avenue,...
Colliers' Doug Frye (inset) and 666 Fifth Avenue
10/09/13
Commercial leasing brokerage Colliers International is relocating the company’s New York headquarters from 380 Madison Avenue to 666 Fifth Avenue. Tags: 666 fifth avenue, collier's...
From left: 11 Madison Avenue, Sony CEO Kaz Hirai and 550 Madison Avenue
09/17/13
Electronics giant Sony, fresh off the sale of its $1.1 billion headquarters at 550 Madison Avenue to the Chetrit Group, is moving to the Sapir...
666_Fifth_Ave.jpg
08/27/13
UPDATED, Aug. 28, 7:15 a.m.: The popularly-priced watch store Swatch Group put its location at 666 Fifth Avenue on the market with an asking price...
sony-ceo-666-fifth
06/05/13
Sony is shopping around for a new office, with an eye on 666 Fifth Avenue, between 52nd and 53rd streets, the New York Post reported....
HaimCheraFbox
06/03/13
Just before sundown Friday, Crown Acquisitions and Highgate Holdings inked a contract to pay private equity firm the Carlyle Group $1.29 billion for the 27-story...
Barbara-Byrne-Denham-feature-box
05/15/13
With the threat of the fiscal cliff no longer spurring sellers to close deals, investment sales of retail assets in New York City plummeted in...
ABS
04/04/13
Boutique commercial brokerage PBS Real Estate has merged with fellow commercial brokerage ABS Partners Real Estate, The Real Deal has learned. The merger comes just days...
03/11/13
Lending that occurred with the aid of commercial mortgage-backed securities has helped fuel the growth in the real estate market, Crain’s reported. Some $19 billion...
Aerial shot of the Brooklyn Navy Yard
02/21/13
Aerial shot of the Brooklyn Navy Yard Bronx tenant invokes loft law for the first time. Vornado completes $390M refinancing of 666 Fifth Avenue retail condo....
east-vil
02/01/13
UPDATED, 11:25 a.m., Feb. 6: A joint venture between Jared Kushner and an unnamed international investor has closed on a portfolio of 17 walk-up apartment...
To see all, go to Advanced Search
  • Event Sales
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2
  • Price $ 1,800,000,000
  • Price per foot $ 1,200.00
notes
The building, which includes 84,855 square feet of retail space on the lower levels, sold for $1.8 billion, or $1,200 per square foot. Tishman Speyer Properties and an investment group bought the building in 2000 for $518 million. The transaction represents the largest single asset sale to date in New York City.
  • Event Sales
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 90,000
  • Price $ 525,000,000
notes
A 49 percent stake in the building's retail space sold for $525 million. Kushner will continue to own 100 percent of the office portion of the tower, which was acquired last year for a record $1.8 billion.
  • Event Sales
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 38,750
  • Price $ 324,000,000
  • Price per foot $ 8,361.00
notes
The retail space formerly occupied by the NBA Store sold for $324 million, or $8,361 per square foot, to the Spanish retail giant. The space will serve as the new flagship store for Zara. The rest of the building's retail space, currently leased to Uniqlo and Hollister, is also on the market. The purchase price for the Zara space includes the early termination of the NBA Store's lease.
  • Event Retail Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2,000
notes
The Swiss watch retailer signed a 15-year lease for the last remaining retail space at the building.
  • Event Retail Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 89,000
notes
The Japanese fashion retailer signed a 15-year lease for $300 million, reportedly a record for retail space in the city. The reported asking rent was $30 million per year; the tenant will pay roughly $20 million per year. Uniqlo also has a location in Soho.
  • Event Retail Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 913
notes
The sandwich chain leased space for another location.
  • Event Retail Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 5,400
notes
The apparel retailer expanded its ground-floor space from 4,400 square feet to 5,400 square feet, moving into the adjacent space being vacated by Hickey Freeman.
  • Event Retail Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 887
  • Publication Date 01/01/2008
  • Event Date 11/22/2007
  • Party 1 Tishman Speyer
  • Party 1 Brokerage In-house
  • Party 2 Dunkin' Donuts
  • Party 2 Brokerage Joseph Isa
  • Party 2 Broker Winick Realty Group
notes
The coffee chain inked a 10-year lease for another location.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 39,000
  • Publication Date 11/01/2007
  • Event Date 09/22/2007
  • Party 1 Kushner Companies
  • Party 1 Brokerage TSP
  • Party 1 Broker Gregory Conen
  • Party 2 Millennium Partners
notes
The hedge fund signed a 12-year expansion lease for space on the ninth floor, bringing its total occupancy in the building to 150,000 feet.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 6,200
notes
The investment bank signed a seven-year lease for space on the 14th floor. This will be the Chicago-based firm's first New York City office.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 107,000
notes
Law firm renews and expands by 29,000 sf
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 48,000
  • Publication Date 08/01/2012
  • Event Date 06/22/2012
  • Party 1 Kushner Cos., Vornado
  • Party 1 Brokerage Vornado Realty Trust
  • Party 1 Broker Thomas Costanzo, Jared Solomon, Glen Weiss
  • Party 2 Akerman Senterfitt
  • Party 2 Brokerage Vortex Group
  • Party 2 Broker Frederick Marek, Scott Grayson
notes
The law firm signed a lease on the 19th and 20th floors, the New York Post reported. The tenant is relocating from a smaller, 40,355-square-foot space at 335 Madison Avenue.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 30,000
notes
The bank renewed its lease for a private-banking floor.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 81,000
notes
The law firm signed a lease renewal and expansion, adding 6,972 square feet on the 27th floor. The tenant will now occupy almost three full floors in the building.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 55,755
  • Price per foot $ 92.00
  • Publication Date 07/01/2008
  • Event Date 05/22/2008
  • Party 1 Kushner Companies
  • Party 1 Brokerage Tishman Speyer
  • Party 1 Broker Greg Conen
  • Party 2 Victoria's Secret
  • Party 2 Brokerage CBRE
  • Party 2 Broker Eric Deutsch, Ken Meyerson, Jason Pollen
notes
The lingerie and fashion retailer inked a five-year lease renewal for office space.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 24,140
notes
The credit asset management and direct lending business signed a lease. The company is relocating from a smaller, 20,000-square-foot space at 551 Madison Avenue.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 50,000
  • Publication Date 08/01/2011
  • Event Date 06/22/2011
  • Party 1 Kushner Companies
  • Party 1 Brokerage CBRE
  • Party 1 Broker Stephen Siegel, Howard Fiddle, Zach Freeman
  • Party 2 International Strategy and Investment Group
  • Party 2 Brokerage NAI Global
  • Party 2 Broker Mel Zimmerman, Trent Dickey
notes
The investment research firm signed a new 10-year lease for part of the 10th floor and the entire 11th floor.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 48,164
notes
The law firm signed a 10-year lease for the entire 16th and 17th floors.
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