Brookfield pays $4M to Vinson & Elkins to buy out lease at 666 Fifth

Brookfield Property Partners through the entity BESREP III Nero LLC paid Vinson & Elkins L.L.P. $4 million in a lease buyout at 666 5th Avenue in the Plaza District. The deal closed on March 11, 2020, and was recorded on March 30, 2020. The law firm occupied 81,000 square feet as of 2010 of the office building.

This is the fourth office lease Brookfield has bought out at the building since June 2019, for a total value of $16.2 million. Vinson & Elkins had as much as 81,000 square feet in 666 Fifth in 2010, according to a NY Post article from the time. Last year, Vinson relocated to another Brookfield property, taking a 76,497-square-foot lease at the Grace Building at 1114 Sixth Avenue.

The other tenants who have been paid by Brookfield are Golub Capital, Investec Asset Management and Schiff Hardin.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on September 27, 2012.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link