Kushners Lease Controversial $1.8 Billion Manhattan Building

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The Wall Street Journal reported Friday that Kushner Cos. has agreed to lease the building at 666 Fifth Avenue to Brookfield Asset Management for 99 years.

The real estate company purchased the building in 2007 for $1.8 billion, a decision made under the leadership of Kushner.

The Journal reported that, while the details of the agreement were not disclosed, people involved in the negotiations said Kushner Cos. would receive enough to pay off the more than $1.1 billion debt it has on the building, or buy out its partner, Vornado Realty Trust, for $120 million.

CNN reported earlier this year that the building came under scrutiny by the Mueller investigation after it emerged that Trump’s son-in-law Jared Kushner reached out to Qatari and Chinese businessmen to invest in the building.

 

Read more at The Hill.

{Matzav.com}

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