Planning and construction The west side of Fifth Avenue between 52nd and 53rd Streets was initially acquired by department store chain
Lord & Taylor in 1945.
Starrett & van Vleck would have developed a new Lord & Taylor
flagship store on the site, replacing an
existing structure at Fifth Avenue and 38th Street. At the time, the existing store did not have enough space for Lord & Taylor's operations, and the company planned to build a skyscraper with a new flagship at the first ten stories. By 1948, there were rumors that Lord & Taylor had abandoned their plans to erect a new flagship, but the company denied the allegations.
Dorothy Shaver, president of the store, ultimately canceled the plan in 1952, citing an "abnormally high cost of building and equipping a large store" within Manhattan.
Early plans Tishman Realty and Construction acquired the Lord & Taylor site between 52nd and 53rd Streets in November 1954. Tishman reportedly paid $9 million for the site, measuring . The company planned to erect a building of at least 34 stories and at least of space. The Tishman family originally wanted a limestone structure that imitated the design of the buildings at the nearby
Rockefeller Center. Carson & Lundin were hired as architects the following month. The architects were simultaneously working on
600 Fifth Avenue at Rockefeller Center. Also included in initial plans was a public arcade between 52nd and 53rd Streets, running west of Fifth Avenue, which would not only draw retail traffic but also allow a public pedestrian shortcut. The arcade would contain an entrance to the Fifth Avenue/53rd Street subway station as well as a connection to Rockefeller Center's underground concourse via 75 Rockefeller Plaza. Carson & Lundin filed plans with the
New York City Department of Buildings in June 1955, with the building expected to cost $18 million.
Final plans and construction The plans were changed in November 1955 after Tishman acquired the
air rights over the adjoining Donnell Library at 53rd Street. Isamu Noguchi was hired to design the lobby in January 1956. At the time, the building was scheduled to be completed in May 1957. Demolition of the last structure on the site commenced in April 1956. Tishman Realty & Construction arranged a $32 million construction loan that May with a consortium of banks led by the
Irving Trust Company. Simultaneously,
Prudential Financial agreed to purchase the building for $35 million and give Tishman an 88-year
leaseback on the property. The last old structure was being demolished and the completion date had been pushed to September 1957. The plans had been changed to provide for an aluminum facade. The first columns of the steel framework were installed in September 1956. The construction attracted a substantial amount of interest. Steelworker
Larry Weinmann, a former cartoonist, put cartoon decorations and depictions of the completed building onto the construction fence, and boxes of geraniums with notes of appreciation were placed outside the worksite in 1956. In addition, the building was decorated with a
papier-mâché Santa Claus during Christmas 1956, and Easter decorations were placed on the worksite during Easter 1957. The Tishman Building officially opened on November 25, 1957, in a ceremony led by
Robert F. Wagner Jr., the
mayor of New York City. The building had cost $40 million. The Tishman Building won the Fifth Avenue Association's award for best new commercial building erected on the avenue during 1956 and 1957. The association praised the building's simple form, embossed facade spandrels, steel mullions, and exterior lighting system.
Late 20th century 1960s to 1980s 666 Fifth Avenue was relatively unchanged until the mid-1970s, when Tishman Realty was being liquidated and converted into a partnership. The company was described by its president
Robert Tishman as having a "negative net worth", and all of its properties had to be sold as a result. That October, the
Equitable Life Assurance Society and Tishman agreed in principle that Tishman would sell off most of its office buildings, though Tishman would retain a 48 percent interest in 666 Fifth Avenue and a partial interest in several other buildings. Tishman dissolved in 1976 and the building was sold for $80 million (about $ million in ). In 1986, Integrated Resources Inc. bought the building for $320 million, although the sale excluded the underlying land. Integrated received a $20 million discount on the purchase price for
asbestos abatement, part of which was used to remove asbestos from the boiler room. The company planned to finance the building using mostly
zero-coupon bonds to account for the fact that, until rent increases were enacted, the building would receive a negative net income. In June 1987, a subsidiary of Japanese realty and development company
Sumitomo Realty & Development purchased 666 Fifth Avenue and its underlying land from Integrated for $500 million. At the time, it was believed to be the second most expensive office-building sale in Manhattan history, behind that of
1251 Avenue of the Americas the previous year for $610 million. The sale was finalized in August 1987.
1990s and early 2000s The Top of the Sixes restaurant was closed in 1996, following the expiration of its lease, This was followed in 1998 by the renovation of the building's lobby and lower floors, which included reconfiguring storefronts to accommodate large tenants on multiple levels. Sumitomo planned to remove the Noguchi artwork, prompting protests from preservationists. The firm ultimately spent $1 million to renovate the ceiling installation and another $300,000 to restore the fountain. The subway entrance was also relocated, TMW owned an 80 percent stake while Tishman owned the remaining 20 percent. Tishman Speyer conducted another renovation of the newly refurbished ground floor. The Fifth Avenue entrance was closed and converted into a storefront, and a new lobby was installed at the relocated main entrance on 53rd Street. The Noguchi artwork was also renovated, having suffered from algae accumulation. By June 2003,
Credit Suisse First Boston and German firm Commerzleasing und Immobilien were being considered as finalists to acquire 666 Fifth Avenue. The German company agreed to buy TMW's 80 percent ownership stake; this offer valued the building at $725 million. In 2004, Tishman Speyer obtained a $562.5 million, five-year
commercial mortgage-backed security (CMBS)
senior loan from
Lehman Brothers and
UBS, which was split into three
pari passu notes. The
interest-only loan also included a $45 million
junior loan in the form of
mezzanine capital. At the time, an
appraisal valued the property at $730 million since the building was 96.4 percent occupied and generating
net cash flows of over $52 million a year. After
Charles Kushner was jailed in 2005, his son
Jared took over the family company, moving the headquarters from
Florham Park, New Jersey, to 666 Fifth Avenue. The building had no official offer price and was never officially marketed for sale, with
Rob Speyer calling potential buyers personally. Kushner also received $535 million in mezzanine financing, split into a $335 million senior
tranche and a $200 million junior tranche. Kushner obtained an appraisal valuing the property at nearly $3 billion, leading real estate magazine
The Real Deal to report that the gap between the appraised valuation and the purchase price was unusually large. The buyers financed the purchase with a $300 million mortgage from Barclays and a $135 million mezzanine loan from
SL Green Realty, a
real estate investment trust. This allowed Kushner to repay the senior mezzanine loan. By 2010, an appraisal valued the building at just $820 million, less than half what Kushner Companies had paid three years earlier. That April, the Carlyle-led group put some retail space for sale with an asking price of between $600 and $700 million.
Zara owner
Inditex purchased of retail space for $324 million, a record deal for a U.S. retail property. Carlyle used the profits from the sale to pay off the Barclays loan and the SL Green mezzanine loan. The firm also refinanced the remaining retail space with a $300 million loan from
Morgan Stanley. Kushner also agreed to invest another $30 million for leasing the building's vacant space, which comprised 30 percent of the floor area, and rework it to suit tenant needs. The lenders of the $1.22 billion mortgage agreed to reduce the loan balance to $1.1 billion with the remainder placed into a "hope note" that would be repaid when the building's vacancy was reduced. The debt's
maturity was pushed to 2019, and the interest rate was reduced. after Kushner complained Barrack was pressuring him about the debt. The Kushner Companies had also contacted the family of Israeli businessman
Beny Steinmetz to ask them to invest in the property. From 2014 through 2016, Kushner Companies reportedly held talks with
Hamad bin Jassim bin Jaber Al Thani, the Prime Minister of Qatar, as another potential investor. Barrack claimed to have arranged the meetings and said a tentative deal for a $500 million equity investment fell apart after Donald Trump won the
2016 United States presidential election. The building was 70 percent leased, while the average Manhattan office building was 91 percent leased.
Anbang talks and proposed replacement In July 2016, Kushner Companies began discussing with the
Anbang Insurance Group of China about a potential investment. That November, Anbang's chairman and CEO
Wu Xiaohui held a private dinner with Jared Kushner, Charles Kushner, and
Laurent Morali at the
Waldorf Astoria New York. The meeting came just one week after the 2016 U.S. presidential election,
Benjamin Lawsky reportedly introduced Kushner and Wu. According to Chinese corruption expert
Minxin Pei, Wu may have wanted political favors from the U.S. government. Anbang and Kushner planned to receive a loan of over $4 billion, as well as $850 million in
EB-5 visa program financing. The upper floors would be converted to luxury condominiums, while the Kushners would invest $750 million in the retail space, ending up with a 20 percent stake in the project. The expected final valuation of $7.2 billion would make it the most valuable single property in Manhattan and New York City. Some of the alleged terms of the deal were called "unusually favorable", including an exit for
Vornado Realty Trust and retirement of the Kushner organization's remaining debt. The politicians also highlighted Wu's connections to the
Chinese Communist Party, as well as those of
Chen Xiaolu, another prominent Anbang owner. The failure of the Anbang agreement prompted
Zaha Hadid Architects to design a $12 billion, skyscraper on the site, which would have been the world's
third most expensive building. Kushner would have reduced the skyscraper to its steel frame and added forty stories. To raise money for the tower, Charles Kushner met with Qatari
Finance Minister Ali Sharif Al Emadi in April 2017. The meeting came roughly one month before the
Qatar diplomatic crisis began; Jared Kushner reportedly sided with Saudi crown prince
Mohammad bin Salman against
Rex Tillerson, the U.S.
Secretary of State. Kushner Companies denied the allegations that they met with Qatari government officials, Kushner's inability to bring on equity partners or lenders resulted in the cancellation of Hadid's skyscraper. The building's valuation decreased more than $25 million during 2017 after the senior mortgage's interest rate increased from 5.5 percent to 6.353 percent. At the end of 2017, several lawmakers sent a letter to Kushner Companies inquiring whether the company sought money from foreign governments to refinance the property. Due to the large amount of debt owed on the tower, Vornado Realty Trust announced it would sell its 49.5 percent stake in February 2018, and Kushner agreed to buy the stake for $120 million.
Brookfield Properties ownership Purchase and renovation In August 2018, Brookfield Properties signed a 99-year lease for the property, with the Kushner family retaining the land. Brookfield paid $1.286 billion for the property, which allowed the senior mortgage to be paid off in full, although the $300 million "hope note" was
written-off entirely. The company planned to invest more than $600 million to overhaul the building with a new lobby, facade, and mechanical systems. The purchase attracted controversy since the
Qatar Investment Authority (QIA) owned a 9 percent stake in
Brookfield Property Partners. A spokesperson for the QIA denied any interest in 666 Fifth Avenue, In February 2019,
ING Bank loaned Brookfield Properties $750 million for renovations, and
Apollo Global Management also reportedly provided a $300 million mezzanine loan. That April, Vornado sold a 48 percent stake in their retail portfolio, including the retail condominium at 666 Fifth Avenue, to the QIA and Crown Acquisitions. In October 2019, Brookfield announced that a $400 million renovation would commence in late 2020 after the remaining tenants' leases expired. The building would be renamed 660 Fifth Avenue.
Kohn Pedersen Fox planned to remove many of the building's interior columns, add double-high ceilings, add four exterior terraces, and replace the building's aluminum cladding with floor-to-ceiling windows. Upon completion of the renovations in 2023, Brookfield expected to achieve rents of over , some of the most expensive office rents in New York City. The following month, Brookfield paid Kadima Realty Associates $8.5 million to terminate their lease early. By June 2020, Brookfield had spent $22.7 million
year-to-date to buy out five tenants' leases. Exterior recladding of 660 Fifth Avenue began in February 2021, and the building was renamed that month. One journalist referred to the change of address as "eliminating the Mark of the Real-Estate Beast", and observed that the old address and curtain wall had been among the "last nongeneric aspects of the building". The lower stories and some of the upper stories had been re-clad by January 2022, and only the top seven stories remained to be clad by that April. The new curtain wall had been completed to the roof by July 2022, and the new facade was completed by January 2023.
New tenants In May 2022, asset manager
Macquarie Group became the first company to lease space in the renovated building, taking six stories; other tenants included 400 Capital Management, which took one story. Uniqlo bought its storefront at 660 Fifth Avenue in August 2024, paying between $340 million and $350 million. The last remaining vacant space was leased to
Scotiabank in September 2025.
The Wall Street Journal referred to the renovation as an "improbable comeback" for 660 Fifth Avenue, contrasting with the political controversies and precarious financial situation that the building had experienced during the 2010s. ==Tenants==