666 Fifth Avenue

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 »

Victoria's Secret, lingerie maker to the masses, will remain in 666 Fifth Avenue, the cloud-buster Jared Kushner (owner of The Observer) bought from Tishman Speyer for a record-setting $1.8 billion.

The company renewed its lease for 55,755 square feet, at $92 a square foot, for five more years in the 41-story building, which just got an $18 million renovation that included a fancy new lobby.  read more »