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Charles Kushner is taking the blame for his firm’s decision to buy the office building at 666 Sixth Ave., saying his son, Jared, was not convinced the purchase was a good idea.
"I pushed Jared to do the deal," Charles Kushner told CNN. Paying $1.8B for the office building back in 2007 was a decision, he said, based on "bad timing and bad judgment.”
Charles is running the firm while Jared serves as senior adviser to his father-in-law, President Donald Trump. The building is saddled with debt of $1.2B, which is set to mature in February.
There is no indication of how the debt will be paid, as the building doesn't generate enough money to cover bills, according to CNN. Earlier this month, Kushner Cos. reportedly reached a “handshake” deal to take full control of the office portion of the building by buying out its partner Vornado.
Kushner is now converting some office floors in the building to luxury condominiums. Charles told CNN that an announcement about the ownership of the tower was coming soon.
Charles refused to confirm whether he encouraged Jared to take the job in the White House, saying that his son “thought he could make a positive impact. In the end, I gave him my blessing."
He also admitted that his widely criticized decision to meet with Qatar's finance minister in 2017 to discuss 666 Fifth was “stupid” considering how it could be — and ultimately was — perceived.
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