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Brookfield eases woes for Kushner family empire, leasing its crown jewel tower in New York

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In 2015, Kushner and his family business, Kushner Cos., bought a portion of the New York Times building on West 43rd Street from russian /israeli real estate billionaire Lev Leviev for $295M, where $285M was borrowed from Deutsche Bank to complete the transaction, despite the 666 albatross hanging over Kushners head

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The Kushner family has closed on a deal to unload its office tower at 666 Fifth Avenue, a building it bought at the top of the market that was ailing financially.. the New York real-estate.

The Kushners bought the Fifth Avenue skyscraper in 2007 for a then-record $1.8 billion. It was supposed to have been the crown jewel of their real estate empire, and Jared Kushner, the president’s son-in-law and a senior white house adviser, played a prominent role in the deal.

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brookfield eases woes for Kushner family empire, leasing its crown jewel tower in New York – The project, with a multistory mall and condos that would need to sell at record-breaking prices, raised eyebrows in the New York financing community. The projected US$4-billion construction loan.

The New York Times has learned through real estate sources that Kushner Companies is close to signing a deal with Brookfield Properties that would allow the latter to take over the leasing and.

Find your bookmarks by selecting your profile name. The Kushners have found their out – and it comes at a price. The family firm of presidential son-in-law Jared Kushner will be relieved of the.

Kushner Cos. has been given a lifeline at 666 Fifth Ave. Brookfield Asset Management has agreed to lease the troubled office tower for 99 years and is paying for the lease up front, rather than in.

 · Brookfield eases woes for Kushner family empire, leasing its crown jewel tower in New York. That put intense pressure on the Kushners to find a fix before the US$1.2-billion mortgage comes due this February. One barrier to the solution was the Kushners’ patriarch, Jared’s father. Charles Kushner, who built Kushner Cos.

Brookfield may also syndicate some of its investment with other institutional investors. The transaction, which is subject to approvals, is expected to close by the end of 2018. Brookfield Business.