Comment on Kushner Cos. in talks to sell stake in struggling skyscraper

Kushner Cos. in talks to sell stake in struggling skyscraper

NEW YORK (AP) — Jared Kushner's family real estate company is in talks to sell a stake in its struggling Manhattan skyscraper, potentially ending a global search for cash that has been criticized for raising conflicts with Kushner's ties to the White House. A person familiar with the matter told The Associated Press on Thursday that a fund overseen by Brookfield Properties is negotiating to buy a substantial stake in Kushner Cos.' flagship property at 666 Fifth Avenue. If successful, the deal could put an end to the Kushner family's search for a partner to bail out its investment in the 41-story tower, which has been losing money ever since then-CEO Kushner bought it for a record $1.8 billion more than a decade ago. With the clock ticking on a $1.4 billion mortgage due in February, the Kushner Cos.Read more on NewsOK.com

 

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