Facing the prospect of foreclosure and without the $7.5B needed to completely redevelop 666 Fifth Ave., Kushner Cos. has pivoted to a more modest update plan.
Kushner Cos. is negotiating to buy out Vornado Realty Trust's 49.5% stake in 666 Fifth Ave. as its towering debt bill is nearly due.
Citigroup and Apollo gave loans to Kushner Companies after White House meetings.
Jared Kushner's family business reportedly sold a stake of a building to a Japanese government-controlled business.
Kushner Cos. filed false paper work claiming 34 of its buildings had not rent-regulated tenants.
Kushner Cos. and Jersey City Mayor Steven Fulop continued to argue over One Journal Square's delays, and Kushner blamed Fulop for "playing politics."
After years of failed attempts, Kushner Cos. is close to a partnership with Brookfield to save 666 Fifth Ave. and redevelop it, according to the New York Times.
Kushner Cos. sold off much of its New Jersey assets to finance the purchase of 666 Fifth Ave., but it has been buying back into the state recently.
The New York Post reports that Joshua Kushner led Kushner Cos.' purchase of the Hotel on Rivington in New York's Lower East Side.
After cashing out of its troubled 666 Fifth Ave. office tower, Kushner Cos. is making a big investment in the Mid-Atlantic multifamily market.
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