666 Fifth Avenue | The Real Deal New York

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666 Fifth Avenue

666 Fifth Avenue
New York, NY 10103
(212) 894-7413
Website
Office, Retail, Leasing/Rental
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 a single office building in the U.S. After the 2008 global financial crisis struck, in early 2010 Kushner's $1.215 billion loan was sent 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 Noguchi's "Ceiling and Waterfall" installation.
  • Year Built 1958
  • square feet 1,329,229
  • block and lot 1-01268-7502
  • BIN 1034520

02/16/17
As it vies for federal work and funds, Vornado Realty Trust pays the Trump Organization tens of millions of dollars each year for its stakes...

02/02/17
Current reader favorites: 1. Jared Kushner sells stake in 666 Fifth Avenue 2. The Long View: The danger of a multifamily mortgage morass 3. Charles...

02/01/17
Charles Kushner, the father of President Trump’s trusted adviser/son-in-law Jared Kushner, is in contract to buy three units at a new condominium conversion project at...

02/01/17
Current reader favorites: 1. Madison moves to foreclose on Toledano-owned Chelsea rental 2. It’s official: Trump begins transferring NYC properties into trust 3. Jared Kushner...

01/31/17
UPDATED Jan. 31, 02:47 PM: Jared Kushner sold his equity stake in 666 Fifth Avenue, once the most expensive office building in America. According to a...

01/30/17
President Donald Trump began moving his New York City real estate portfolio into the “Donald J Trump Revocable Trust” on Dec. 31 and New Year’s...

01/22/17
Despite concerns over anti-nepotism rules, Jared Kushner has been cleared by the Department of Justice to work as President Trump’s senior adviser in the White...

01/20/17
“Am I the leader of the company?” Laurent Morali, the new president of Kushner Companies, repeated the question, then answered without a moment’s hesitation. “I...

01/13/17
Donald Trump was the elephant in the Waldorf Astoria hotel’s ballroom Thursday night, as Chinese and U.S. business leaders gathered for a gala dinner and...

01/11/17
As China’s insurance giants grow and snap up properties in New York and elsewhere, observers and regulators are increasingly worried about the industry’s reliance on...

kush-bros-feat
01/10/17
Jared Kushner, who is set to join Donald Trump’s administration as a senior adviser, will step down from all business and board positions he currently holds...

01/09/17
The era of the $4 billion office tower is upon us. Related Companies and Oxford Properties Group are pegging the cost of 50 Hudson Yards,...

01/08/17
UPDATED, 4:02 p.m., Jan. 8: Jared Kushner is poised to step down as CEO of Kushner Companies, his attorney told the New York Times. The...

12/19/16
Jared Kushner and his family are worth an estimated $1.8 billion, roughly half of which comes from their real estate holdings. Tags: Charles Kushner, Jared...

12/13/16
Uniqlo is in talks to lease about 100,000 square feet at 23 Wall Street, the vacant six-story Financial District retail building that Jack Terzi’s JTRE...

11/02/16
UPDATED, Nov. 2, 4:30 p.m.: Colliers International strengthened its retail arm on Wednesday, luring Cushman & Wakefield vice chairs of retail Bradley Mendelson and David...

08/18/16
Josh Kushner loves his older brother but he won’t do that — “that” being vote for Donald Trump. Tags: 2016 Election, Donald Trump, Jared Kushner,...

07/08/16
Jared Kushner strong-armed his reporters into pursuing a controversial story about fellow real estate investor Richard Mack, after the two feuded over a deal involving...

03/04/16
If the real estate your client wants doesn’t exist, go out and make it. That’s what David Ash, founder of the boutique investment-sales brokerage Prince...

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...

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...

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...

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...
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 13,422
notes
The investment advisement firm signed a lease.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 11,330
notes
The firm signed a lease.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 48,000
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 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 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 Sales
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 38,750
  • Price $ 324,000,000
  • Price per foot $ 8,361.29
  • Publication Date 04/01/2011
  • Event Date 02/20/2011
  • Party 1 Kushner Companies
  • Party 2 Inditex Group
  • Party 2 Brokerage Savills Studley
  • Party 2 Broker Borja Sierra
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 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.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 81,000
  • Publication Date 06/01/2010
  • Event Date 04/22/2010
  • Party 1 Kushner Companies
  • Party 1 Brokerage Tishman Speyer
  • Party 1 Broker Ted Koltis, Peter Brindley
  • Party 2 Vinson & Elkins
  • Party 2 Brokerage CBRE
  • Party 2 Broker Lewis Miller
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 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 668 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 15,500
  • Publication Date 12/01/2009
  • Event Date 10/22/2009
  • Party 1 Carlyle Group, Crown Acquisitions
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Brad Mendelson, Alan Schmerzler, David Green
  • Party 2 Abercrombie & Fitch
  • Party 2 Brokerage PBS Realty Advisors
  • Party 2 Broker Laura Pomerantz
notes
The teen fashion company signed a 15-year lease to open its second Manhattan Hollister store. The first location is in Soho.
  • 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 Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 30,000
  • Publication Date 06/01/2009
  • Event Date 04/22/2009
  • Party 1 Kushner Companies
  • Party 1 Brokerage Tishman Speyer
  • Party 2 Citigroup
  • Party 2 Brokerage In-house
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 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 Sales
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 90,000
  • Price $ 525,000,000
  • Price per foot $ 5,833.33
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 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 6,200
  • 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 William Blair & Company
  • Party 2 Brokerage JLL
  • Party 2 Broker David Kleiner, Andrew Flint
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 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 Sales
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 1,500,000
  • 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 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

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