Brookfield Properties, on June 4, was given a permit for a $9.9 million rehab of the commercial space located in its office building at 666 Fifth Avenue in the Plaza District.
The plans, pre-filed on February 25, 2020, call for a rehab of the commercial space of the 425-foot tall, 40-story, building.
The project is described in the filings as: application filed for demolition of interior non-load bearing partitions in existing commercial space as shown. Work is on floors four through 38. No change in use, egress, or occupancy. The initial cost as reported in the DOB filing for the work described in this permit application is $9,900,000.
Brookfield Properties through the entity BSREP III Nero LLC paid Kushner Companies’s Kadima Realty Associates LLC $8.5 million to buy out its remaining term of its lease in the building earlier this month. Brookfield acquired a net lease for the office portion of the building it valued at $1.29 billion from Kushner in 2018 and is undergoing a $400 million rehabilitation of the building and is buying out tenants, according to reports.
Direct link to Acris document.LINK
Direct link to DOB document.LINK