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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
For more info, click here
  • Event Financing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 750,000,000
notes
The owner secured a loan of $750 million for the Plaza District property.
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  • Event Sales
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 1,246,882
  • Price $ 1,100,000,000
notes
Brookfield signed a 99-year ground lease for the office portion of the Plaza District building.
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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.
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  • 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.
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  • 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.
For more info, click here
  • 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.
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  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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 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 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
  • 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.
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.
For more info, click here
  • 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.
For more info, click here
  • 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

NYC's next wave of dynasties
09/01/2017
From left: Avi Schron; Jake, Zoe and Justin Elghanayan; Jared Kushner and Nicole Kushner Meyer; Jed Walentas New York City has a long, storied tradition From left: Avi Schron; Jake, Zoe and Justin Elghanayan; Jared Kushner and Nicole Kushner Meyer; Jed Walentas New York City has a long, storied tradition...

Fifth (Avenue) Amendments
07/01/2016
Fifth Avenue is not usually a New York City laggard, but it’s been a decade since a major development has gone up on the tonyFifth Avenue is not usually a New York City laggard, but it’s been a decade since a major development has gone up on the tony...

NYC vs. the World
10/01/2015
Zara parent Inditex also recently bought a roughly 47,000-square-foot retail condo at 503-511 Broadway for $280 million. That comes off the heels of its blockbuster 2011 deal to buy for a $324 million retail condo at 666 Fifth Avenue from Stanley Chera’s Crown Acquisitions, the Carlyle Group and Kushner Companies...

Ranking Manhattan’s biggest retail buyers
12/01/2014
The company focused on expanding its holdings along Fifth Avenue, where it was already a major landlord. To start, it paid $707 million in December 2012 for the retail at 666 Fifth Avenue, and later laid out another $1 billion for the St...

The office slump
01/01/2013
Some of the big non-office building deals that made the list were Vornado Realty Trust’s blockbuster $707.8 million purchase of the retail condo at 666 Fifth Avenue (which ranked at No...

Retail records
01/01/2013
As tourists continued to flock to Gotham in record numbers, New York City retail saw a banner 2012: Nordstrom announced it would take 285,000 square feet of space at 225 West 57th Street, at the base of Extell’s soon-to-rise residential development, and one of the retail condos at the base of 666 Fifth Avenue sold to Vornado for $707 million (note: correction appended)...

2012’s biggest money makers
12/01/2012
The TRD data included only full building sales above $100 million that closed and were available in city property records as of the middle of last month. Some deals did not make the cut because they have not yet 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 sellers...

For the record
01/03/2012
Even in a year marked by continued economic malaise, buyers, sellers, landlords, lenders, builders, investors and even tourists broke records in New York in 2011.Even in a year marked by continued economic malaise, buyers, sellers, landlords, lenders, builders, investors and even tourists broke records in New York in 2011....

Fifth Avenue's storefront shuffle
12/01/2011
Click to enlarge Upper Fifth Avenue (the portion between 49th and 59th streets) is the most expensive retail stretch in the world. However, it's not Click to enlarge Upper Fifth Avenue (the portion between 49th and 59th streets) is the most expensive retail stretch in the world. However, it's not...

Help from the French, but still a struggle
11/30/2010
Four of the top five deals the firm reported closed in October were for between 50,000 square feet and 70,000 square feet, including law firms Proskauer Rose taking 61,294 square feet at 2 Penn Plaza, and Schiff Hardin moving from 900 Third Avenue to 666 Fifth Avenue...

The top up-and-coming buyers
10/01/2010
Crown Acquisitions has ownership interests in dozens of properties in the U.S. and Canada, including major retail properties in Manhattan such as 666 Fifth Avenue...

Commercial brokerage firms: Who sold the most?
12/30/2009
From left: 444 Madison Avenue, 666 Fifth Avenue, and 1301 Sixth Avenue New York City's top commercial brokerages have jockeyed for market share over the past From left: 444 Madison Avenue, 666 Fifth Avenue, and 1301 Sixth Avenue New York City's top commercial brokerages have jockeyed for market share over the past...

Class A vacancy stabilizes
10/19/2007
The Kushner family, for instance, agreed to buy 666 Fifth Avenue from Tishman Speyer Properties for a record $1.8 billion...

Manhattan's biggest building buyers
06/01/2007
Meanwhile, Kushner Companies' purchase of 666 Fifth Avenue, which earned it a spot at number eight on the list, set the record for the highest price paid to date for a single building in New York City...