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Thu May 17, 2018, 01:08 PM

Kushners Near Deal With Qatar-Linked Company for Troubled Tower

Source: nyt

The company controlled by the family of the White House adviser Jared Kushner is close to receiving a bailout of its financially troubled flagship building by a company with ties to the government of Qatar, according to executives briefed on the deal.

Charles Kushner, head of the Kushner Companies, is in advanced talks with Brookfield Properties over a partnership to take control of the 41-story aluminum-clad tower 666 Fifth Avenue in Midtown, according to two real estate executives who have been briefed on the pending deal but are not authorized to discuss it. Brookfield is a publicly traded company, headquartered in Canada, one of whose major investors is the Qatar Investment Authority.

Mr. Kushner and his son Jared, President Trumpís son-in-law and one of his key advisers, bought the office tower, which is between 51st and 52nd Streets, 11 years ago for a record-setting $1.8 billion. But the building today only generates about half its annual mortgage payment, and 30 percent of the 41-story tower is vacant.

In late 2016, Mr. Kushner and his son were close to a much different kind of deal with Anbang, a giant Chinese insurance company with ties to the countryís ruling elite, and with a billionaire from Qatar, Hamad bin Jassim Al-Thani. That plan involved demolishing the existing building at 666 Fifth and erecting a $7.5 billion luxury super tower.



Read more: https://www.nytimes.com/2018/05/17/nyregion/kushner-deal-qatar-666-5th.html?

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Response to elleng (Original post)

Thu May 17, 2018, 01:09 PM

1. Remember,when Qatar said no, Trump denounced them as sponsors of terrorism

 

Then, Trump suddenly said they were not sponsors of terrorism, and now (boom!) they're financing this building.

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Response to Americanno (Reply #1)

Thu May 17, 2018, 01:17 PM

3. Unless Congressional Republicans start speaking up, Trump Corruption will riegn high.

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Response to Americanno (Reply #1)

Thu May 17, 2018, 01:18 PM

4. Just another amazing coincidence in Trumpworld

And not a fucking beep from Republicans

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Response to Americanno (Reply #1)

Thu May 17, 2018, 03:51 PM

7. So Trump's extortion racket is working.

Awesome.

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Response to lagomorph777 (Reply #7)

Thu May 17, 2018, 04:04 PM

9. Exactly They shook down a whole country in broad daylight & are getting away with it

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Response to elleng (Original post)

Thu May 17, 2018, 01:15 PM

2. What betrayal of our country will the Trump family do for this deal?

After losing his temp security clearance, Jared must be getting his intel secrets directly from Donald to sell.

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Response to elleng (Original post)

Thu May 17, 2018, 01:24 PM

5. building generates half the mortgage but is 30% empty. Do the math. There is no way

to break even here.
Anyone investing is going to lose.
If 70% generates half the money needed the other 30% isn't going to get you there.
They need 40% more building to break even.

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Response to elleng (Original post)

Thu May 17, 2018, 03:44 PM

6. The moron and his family are so brazen

by continuing their corrupt behavior in full, public view. Unbelievable!

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Response to elleng (Original post)

Sat May 19, 2018, 12:17 AM

10. We don't like

foreigners (immigrants) but we sure like foreign investors.

Wonder what the sales price is? Bet there will still be money on the table (profit) after the mortgage is paid off, because investing in this venture has so much opportunity.

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Response to elleng (Original post)

Sat May 19, 2018, 01:12 PM

11. I don't understand why Mueller couldn't prosecute Kushner for extortion or pay to play tactics.

It's not like Kushner's the president. I know that it hard to indict the president, but this is so blatantly obvious thajt this is either a shakedown, or a pay to play scam, than any jury could see through.

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