Washington-based private equity firm the Carlyle Group is making itself at home in Manhattan as it nears a deal for another Midtown property: 666 Fifth Ave.
Bloomberg is reporting that Carlyle is on the verge of purchasing the retail portion of 666 Fifth Ave. in New York for $525 million in a deal that would aid owner Jared Kushner in repaying debt, according to people familiar with the matter. Carlyle plans to make the purchase with Crown Acquisitions as a leasing partner.
The deal would be the second real estate transaction this month for Carlyle. The private equity firm partnered with real estate investment firm Ashkenazy Acquisition Corp. to
acquire 650 Madison Ave. on April 9. Hiro Real Estate Co. sold the 600,000-square-foot Manhattan office and retail tower to the two buyers for $680 million.
- George WhiteSee Bloomberg storySee TheDeal.com story on 650 Madison Avenue
