The Wall Street Journal reported Tuesday that the partnership intends to sell the retail condo for between $600 million and $700 million, a markup of 14% to 33% on the $525 million it paid two years ago. The venture says that since buying a controlling interest in the condo from the Kushner Cos., it has increased the value by buying out existing tenants with below-market leases, according to the Journal.

In place of those below-market tenants are Abercrombie & Fitch's Hollister brand, which took 15,500 square feet last October, and Japanese retailer Uniqlo, which signed a lease for 89,340 square feet to establish a global flagship location. Uniqlo's 15-year deal is for more than $300 million, reportedly setting a record for retail rents.

Mark Schoenfeld, a managing director at Carlyle, told the Journal that a business plan has been completed that will enable 666 Fifth to have "a unique combination" of yield and long-term appreciation. The group's intention is to build what Schoenfeld called a "super block" of retailers that it expects to generate more sales than any other block in the city, the Journal says. Asking rents in the 666 Fifth retail condo average $2,500 per square foot.