Kushner Companies
Carlyle Group Buys Stake in 666 Fifth's Retail for $525 M.
The Carlyle Group closed today on the purchase of an interest in the retail condo at 666 Fifth Avenue, the tower that Kushner Companies bought last year for a then-record $1.8 billion, according to a source familiar with the deal.
Carlyle Group -– the mammoth private equity group that manages $82.7 billion in 60 funds worldwide and recently, with Ashkenazy Acquisition Corp., bought 650 Madison Avenue for $680 million -- is purchasing this deal in partnership with Stanley Chera's Crown Acquisitions. The 49 percent stake, as reported by Bloomberg News, in the approximately 90,000-square-foot retail portion, which includes a Brooks Brothers and the NBA Store, is valued in the deal at $525 million. read more »
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666 Fifth Avenue Deal Closes
Cushman & Wakefield, which arranged the sale, released the news on Tuesday. (No matter that it closed on Jan. 12, according to city records--it's a slow news day).
Kushner Companies is the new owner, Tishman Speyer the seller. (The Observer is owned by Jared Kushner of Kushner Companies.)
The full release after the jump. read more »
- John Koblin
