Global private equity firm The Carlyle Group and Crown Acquisitions, founded by Stanley Chera, have bought the controlling interest in the retail element of 666 Fifth Avenue for $525m (£263.3m).

The 90,000 sq ft retail property has been bought by the joint-venture from the building’s owner Kushner Companies in the biggest retail deal in New York this year.

At the same time Crown Acquisitions has signed up Abercrombie & Fitch as a new anchor tenant for the store.

The fashion brand has taken a 20,000 sq ft shop in the building, as revealed in Property Week in May.

The property is located between 52nd and 53rd Streets and offers 200ft of uninterrupted shop frontage on the internationally-renowned Fifth Avenue.

Carlton Advisory Services arranged the venture between Carlyle, Crown and Kushman.

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