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

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

National Cheat Sheet: Online RE investment platform scores funding from Steven Cohen, Florida suspends construction rules to rebuild post-Irma … & more
09/22/17
...using the hashtags #MiamiOpenForBusiness and #CondosWithPower. Kushner’s 666 Fifth Avenue benefited from a highly unusual appraisal Kushner Companies’ record $1.8 billion acquisition of 666 Fifth Avenue...

The unusual appraisal behind Kushner’s record deal for 666 Fifth
09/20/17
...666 Fifth Avenue was Kushner Companies' first marquee Manhattan deal. But even by '07 standards, it received...

Ranking the biggest, most profitable family firms in NYC
09/13/17
...York City, acquiring trophy Manhattan office buildings like 666 Fifth Avenue and eventually buying up the Jehovah’s Witnesses’ Brooklyn portfolio. He started young, taking...

Law firm is leaving 666 Fifth for SL Green’s 485 Lex
09/12/17
...Avenue. The firm is moving from Kushner Companies’ 666 Fifth Avenue, where it leases 49,000 square feet, the Commercial Observer reported. The asking rents in the...

Aby Rosen pays $135M for former Jehovah’s Witnesses hotel
09/05/17
...cash reserves while it deals with its troubled 666 Fifth Avenue office tower. A spokesperson for the company said it made a “strategic decision” to...

Kushner Companies provides loan for Somerset’s massive Bronx project
09/05/17
...capital it needs to convert its flagship property, 666 Fifth Avenue, into an uber-luxury supertall condo. Anbang Insurance Group, Sheikh Hamad bin Jassim Al Thani...

The Kushner empire is under threat
08/31/17
...666 Fifth Avenue and Jared Kushner (Photo illustration by Lexi Pilgrim for The Real Deal) Kushner Companies'...

Kushner Companies files plans for 737-unit Dumbo building
08/29/17
...plans to build a luxury condo-and-retail tower at 666 Fifth Avenue, but has struggled to find investors...

The Long View: NYC real estate is addicted to foreign cash. The withdrawal symptoms ain’t going to be pretty
08/29/17
...Anbang’s Wu on a deal to fund 666 Fifth Avenue’s conversion into a new luxury condo and retail tower. But the deal fell...

Paydirt: WeWork’s f*ck-you money
08/28/17
...going to work with at Kushner Company’s 666 Fifth Avenue. Incredulous doesn’t begin to describe it – the numbers had no bearing in anything...

PR heavyweight drops Kushner Companies as client
08/24/17
...year, negotiations to redevelop its flagship tower at 666 Fifth Avenue with Anbang Insurance Group fell through. Heller’s work with members of the Trump...

Anbang’s head of real estate is out
08/21/17
...pulled out of negotiations to redevelop Kushner Companies’ 666 Fifth Avenue, suspended chairman Wu Xiaohui in June, following reports that he'd been detained by Chinese...

China warns that it will not tolerate “irrational” overseas investment
08/18/17
...reportedly in talks to invest in Kushner Companies' 666 Fifth Avenue before scrutiny killed the deal. Last year, Chinese investment abroad topped $816 billion, according to...

Real estate vets, TRData is your NYC development encyclopedia
08/15/17
...From left: 666 Fifth Avenue, Ben Ashkenazy, Aaron Jungreis and Gary Barnett New York City's real estate industry is...

The quiet financier behind New York’s second-tallest condo project: Qatar
08/03/17
...investing $500 million in Kushner Companies’ planned redevelopment of 666 Fifth Avenue. In 2015, QIA said it planned to invest $35 billion in the U.S. over the...

US attorney subpoenas Kushner Companies over EB-5
08/02/17
...soliciting EB-5 funds for a proposed redevelopment of 666 Fifth Avenue, the company's flagship property in Manhattan. The EB-5 program, which gives green cards to...

Chinese overseas RE investment could nosedive this year: Morgan Stanley
08/02/17
...in Kushner Companies and Vornado Realty Trust’s 666 Fifth Avenue for unclear reasons. And on Monday, news broke that Anbang may be forced to...

Can anyone spare a billion? Here are five trophy buildings that could have sold in early 2017 — but didn’t
08/01/17
...From left: 237 Park Avenue, a rendering of 666 Fifth Avenue and 5 Bryant Park UPDATED, Aug. 3, 2:35 p.m.: In New York real estate, late July...

Why Steve Roth thinks the vast amount of US retail space needs to disappear
08/01/17
...get bids.” Vornado owns the retail space at 666 Fifth Avenue and shares ownership of the office portion with Kushner Companies. Asked about Kushner’s...

Paydirt: China is trying to neuter its gray rhinos — what will that mean for Manhattan’s skyline?
07/31/17
...a failed or fictitious deal for Kushner Companies’ 666 Fifth Avenue. And now, Bloomberg reports, the Chinese government has asked Anbang to sell its offshore...

Robert Mueller widens inquiry to include Trump business deals
07/20/17
...to Kushner Company's struggling trophy office tower at 666 Fifth Avenue. Jared's firm has long sought investors for a multi-billion dollar overhaul of the building...

Tom Barrack’s capitol gains
07/17/17
...Trump’s son-in-law, Jared Kushner, faced foreclosure on 666 Fifth Avenue, Barrack’s Colony, which was one of the debt holders on the property, stepped...

Here’s how much money HNA Group’s
245 Park Avenue makes
07/17/17
...and net operating income at Kushner Companies’ troubled 666 Fifth Avenue was reported in April to be $41.3 million in 2016, though the building lost $14.5 million after...

Here’s how much money the GM Building makes
07/13/17
...tower whose financials were recently publicized: Kushner Companies’ 666 Fifth Avenue. Bloomberg reported in April that 1.5-million-square-foot tower, which was 80 percent leased at the end...

WeWork is now worth more than Vornado, Boston Properties
07/11/17
...From left: 666 Fifth Avenue, WeWork's Adam Neumann (credit: Getty Images) and the GM Building WeWork is now worth...
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  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 11,330
notes
The firm signed a lease.
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  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 13,422
notes
The investment advisement firm signed a lease.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 50,000
notes
The investment research firm signed a new 10-year lease for part of the 10th floor and the entire 11th floor.
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  • 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.
For more info, click here
  • 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
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.
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  • 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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  • 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.
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  • 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.
For more info, click here
  • Event Retail Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 913
notes
The sandwich chain leased space for another location.
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  • Event Retail Leasing
  • Address 668 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 15,500
notes
The teen fashion company signed a 15-year lease to open its second Manhattan Hollister store. The first location is in Soho.
For more info, click here
  • 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.
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  • 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.
For more info, click here
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 55,755
  • Price per foot $ 92.00
notes
The lingerie and fashion retailer inked a five-year lease renewal for office space.
For more info, click here
  • 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.
For more info, click here
  • 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.
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  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
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  • 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

Fifth (Avenue) Amendments
...deals that could change the face of Fifth. 666 Fifth Avenue (inset: Zaha Hadid) 666 Fifth Avenue If Fifth Avenue has been asleep on the development...

NYC vs. the World
...to buy for a $324 million retail condo at 666 Fifth Avenue from Stanley Chera’s Crown Acquisitions, the Carlyle Group and Kushner Companies. Given Manhattan...

Ranking Manhattan’s
biggest retail buyers
...paid $707 million in December 2012 for the retail at 666 Fifth Avenue, and later laid out another $1 billion for the St. Regis, 655 Fifth Avenue and 608 Fifth...

The office slump
...blockbuster $707.8 million purchase of the retail condo at 666 Fifth Avenue (which ranked at No. 2) and UDR’s $630 million purchase of Columbus Square, a group...

Retail records
...of the retail condos at the base of 666 Fifth Avenue sold to Vornado for $707 million (note: correction appended). In the third quarter of last...

2012’s biggest money makers
...closed. For example, the retail condo sale at 666 Fifth Avenue was not included, but is still expected to be a big moneymaker for its...

For the record
...pay $331.6 million for a 39,000-square-foot slice of a 666 Fifth Avenue retail condo, city records show. At $8,300 per square foot, it was the highest price...

Fifth Avenue’s storefront shuffle
...floor (Lindt) Asking rent: $2,400 per square foot 16. Address: 666 Fifth Avenue Landlord: Carlyle Group, Kushner Companies, Crown Acquisitions Tenants: Uniqlo, Swatch opened Size: 90,000 square feet...

Help from the French, but still a struggle
...and Schiff Hardin moving from 900 Third Avenue to 666 Fifth Avenue. Venable, another law firm, is now in the market for more than 60,000 square feet...

The top up-and-coming buyers
...including major retail properties in Manhattan such as 666 Fifth Avenue. Chera as an individual was listed as a joint venture partner in the acquisition...

Commercial brokerage firms: Who sold the most?
...From left: 444 Madison Avenue, 666 Fifth Avenue, and 1301 Sixth Avenue New York City's top commercial brokerages have jockeyed for market share...

A chill in the air for office leasing
...Charles Kushner, chairman of Kushner Companies, said if 666 Fifth Avenue (which the company bought for a record $1.8 billion last year) was any indication, the...

Sales prices quadruple for retail space
...of last year, the New Jersey-based developer bought 666 Fifth Avenue, between 52nd and 53rd streets, and blew the lid off the city's commercial real...

Class A vacancy stabilizes
...The Kushner family, for instance, agreed to buy 666 Fifth Avenue from Tishman Speyer Properties for a record $1.8 billion. Up the road, developer Harry Macklowe...

Manhattan’s biggest building buyers
...in the city. Meanwhile, Kushner Companies' purchase of 666 Fifth Avenue, which earned it a spot at number eight on the list, set the record...
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