A spokeswoman for the Kushner Cos. says the family real estate developer is in talks to buy out its partner in a Manhattan skyscraper that has been losing money for years.
Christine Taylor says the family firm once run by President Donald Trump senior adviser Jared Kushner is negotiating with Vornado Realty Trust for its 49.5 percent stake in 666 Fifth Avenue. The Kushner Cos. had sought billions from abroad to fix up the 1950’s-era office tower, but the effort was largely abandoned after critics said the financing raised conflicts of interest issues with its former CEO in the White House and helping to shape foreign policy.
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Offices in the building are about a third vacant and a $1.2 billion mortgage is coming due early next year.
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