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Thursday, 17 May 2018

Qatar and the Kushners: What to Watch For - Bloomberg

Qatar and the Kushners: What to Watch For - Bloomberg:

"As you may recall, the Kushner family owns a troubled skyscraper in Manhattan located at 666 Fifth Avenue. Jared Kushner bought the building in 2007 for a record-setting $1.8 billion, a lofty price that marked the young developer's entry into high-profile New York dealmaking while also threatening to strain his family's personal finances should the transaction not work out.

It didn't work out. Now, help is finally on the way. And suddenly it’s not just a story about a New York real estate deal, but one that raises questions about the commingling of private business interests with the public policy of the United States.

It begins with Kushner, who later became the son-in-law of President Donald Trump, in control of a building with low occupancy rates and not enough cash flow to comfortably manage payments on the buckets of debt he took on to buy it in the first place."

'via Blog this'