Bloomberg is reporting that Inditex bought the former NBA space (39k sq ft) for $324mm, or $8.3k psf making it the highest retail valuation evah. They're going to put a Zara store there. You'll recall that Uniqlo leased space there approximately 1 year ago at $2k psf (note that in the comments Rational Realist clarified the lease with sources as well).
If you leave 30 Rock and walk through 666 Fifth and come out through the Hickey Freeman entrance, you see the Ermengildo Zegna store in front of you, and this space is on your right at the corner of 52nd and Fifth.
For some price points, the article goes on to note that the 2008 sale of a partial ownership interest in the retail portion of the building (from Kushner to Carlyle and Crown Acquisitions) valued the space at $6,187 psf.
In regards to the CMBS loan, this space was released as collateral related to the aforementioned 2008 transaction with Carlyle and Crowndid not serve as collateral. This space is part of the 95k sq feet of "Fifth Avenue Retail Space", BUT the mezzanine loans must be paid down with any proceeds from a sale of this space. I don't know if they are still outstanding, but I bet they were. BCRE and UBS made the original loans, but I also do not know who the investors were.
The "Other Retail & Storage Space" (69k sq feet) + Office + Parking constitute collateral for the CMBS loan financing original purchase by Kushner and Gellert, which used an $1.215 billion senior note split unevenly between WBCMT 2007-C31, GECMC 2007-C1, and WBCMT 2007-C33, plus $335mm of senior mezz, plus $200mm of junior mezz, for a total financing of $1.75 billion
The irony is not lost on us that precisely 1 year ago, to the day, almost to the hour, we noted that this property was in Special Servicing.