The address, which begins with the number 666, has not been an omen to its former owner Tishman Speyer but instead more of a blessing.
The New York-based real estate developer sold the 41-story Manhattan office building located at 666 Fifth Avenue for $1.8 billion to the Kushner family, a New Jersey real estate family best known for its patriarch's scandalous behavior.
The price is a record for an office building in the U.S., according to the New York Times. Tishman Speyer profited handsomely from the sale purchasing the building six years ago for one-third the selling price.
Interestingly, Tishman Speyer broke the previous record for the sale price of an office building it set last year when it purchased the MetLife Building for $1.72 billion. In addition, the firm made headlines in October when it teamed up with Black Rock Realty to purchase Peter Cooper Village Stuyvesant Town in the biggest deal for a real estate property at $5.4 billion.
Of course, Charles Kushner also has made headlines, but not so much for the deals he's engineered. Over the summer, Kushner was released from prison after serving time for attempting to bribe his brother-in-law and intimidate a federal witness, who by the way was his sister. The family also was in the news a few months ago when Charles Kushner's son, Jared Kushner, successfully won the auction for the New York Observer newspaper. — Gerald Magpily
See story from The New York Times
See item about Charles Kushner from Dealscape
See Dealwatch about NY Observer
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