Done deal: record $1.8b sale of 666 Fifth officially closes.Cushman & Wakefield announced the completion of the $1.8 billion sale of 666 Fifth Ave., which marks the largest single-building sale in history. Kushner Companies acquired the 41-story, 1.55 million square foot Manhattan skyscraper, located between 52nd and 53rdStreets in the city's Plaza District, from Tishman Speyer Properties Tishman Speyer Properties is a leading real estate building and operating company set up in 1978 by two founding partners, Jerry Speyer and Robert Tishman. Overview . The acquisition further strengthens Kushner Companies' real estate holdings in the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of metropolitan region. The company's portfolio now encompasses more than six million square feet of office, industrial and retail space, including the Puck Building The Puck Building occupies the block bounded by Lafayette, Houston, Mulberry and Jersey Streets in the borough of Manhattan, New York City, USA. This example of Romanesque Revival architecture, designed by Albert and Herman Wagner, was constructed in 1885 and expanded in 1893. on Lafayette Street, and 25,000 multi-family housing units, primarily in the Northeast and Mid-Atlantic regions. Cushman & Wake field's Arthur Mirante, president of Global Business Development, and Richard Baxter This article is about the clergyman. For the jurist, see Richard Baxter (jurist).) Richard Baxter (November 12, 1615 - December 8, 1691) was an English Puritan church leader, theologian and controversialist, called by Dean Stanley "the chief of English Protestant Schoolmen". , Jon Caplan, Ron Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , Scott Latham, Karen Wiedenmann and Helen Hwang of Cushman & Wakefield's New York Capital Markets Group, arranged the sale. "We're pleased to expand the Kushner portfolio in Manhattan with the addition of such a unique asset," said Jared Kushner, principal. "We are very bullish on New York real estate, and we are confident that 666 Fifth has great upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar . We identified a premier building with the highest quality office configuration and one of the best retail boxes in the world." In addition to the office component, 666 Fifth includes approximately 85,000 square feet of prime retail space with a full-block frontage on Fifth Avenue occupied by The NBA NBA abbr. 1. National Basketball Association 2. National Boxing Association NBA (US) n abbr (= National Basketball Association) → Basketball-Dachverband (= Store, Brooks Brothers and Hickey Freeman. The retail space commands some of the highest rents in the City. Developed by Tishman Realty & Construction in 1957 and completed in 1958, 666 Fifth Avenue was renovated in 1998 and 2001. Tishman Speyer Properties and an investment group bought the building in 2000. The building is one of the most-recognized class-A trophies in Manhattan's skyline. Located just north of Rockefeller Center, it also includes the exclusive Grand Havana Room cigar club on its top floor and a valet parking garage for 90 cars. The prestigious tenant roster is anchored by several major financial institutions and law firms, including CitiGroup and Orrick Herrington. |
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