666 Fifth Avenue
In January 2007 Kushner Companies completed the largest single building transaction in New York history with our purchase of 666 Fifth. Purchased for $1.8 billion, this 1.6 square foot, class ”A” office tower was split into separate office and retail condominiums and repositioned to attract higher-end clientele. After a record-breaking lease to Uniqlo for $300 million, the retail section of the building was sold in two separate transactions to Zara and Vornado Realty Trust at a combined value of $1.1 billion. Kushner Companies retained the office condos via separate recapitalization, bringing in Vornado as a joint venture partner in 2011.