Posted Feb 27, 2018, 3:06 PM
|
 |
New Yorker for life
|
|
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 52,145
|
|
https://www.bloomberg.com/news/artic...e-from-vornado
Kushner Cos. in Talks to Buy 666 Fifth Ave. Stake From Vornado
By Caleb Melby
February 27, 2018
Quote:
|
Kushner Cos. is in negotiations to buy the 49.5 percent of a debt-laden office tower on Manhattan’s Fifth Avenue that it doesn’t already own from partner Vornado Realty Trust.
|
https://www.wsj.com/articles/kushner...ave-1519736400
Kushner Cos. in Talks to Buy Remaining Stake in 666 Fifth Ave.
By Peter Grant
Feb. 27, 2018
Quote:
A Vornado spokeswoman didn’t respond to a request for comment. In a fourth-quarter earnings call earlier this month, Vornado Chief Executive Steven Roth disclosed that the company was hoping to sell its stake in 666 Fifth.
“We would rather exit than stick it out,” he said.
A person familiar with the negotiations said a deal could be reached in a few months.
... if Vornado sells its stake, the most obvious buyer would be Kushner, because others might be reluctant to get involved in one of most closely scrutinized buildings in the world. Also, Charles Kushner might be willing to pay more because he knows the building so well, according to people in New York real-estate sales.
“Kushner is the logical buyer as he’s already in the deal and has a specific vision for the building,” said Woody Heller, co-head of Savills Studley’s capital markets group.
|
__________________
NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
|