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Old Posted Jul 12, 2017, 4:34 AM
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Kushner family seeks new plan for flagship New York office after failed Qatar deal

Herbert Lash, Reuters

Kushner Cos, the realty company once headed by President Donald Trump's son-in-law, said on Tuesday it is reassessing how to finance the redevelopment of its flagship New York City property after failed talks with a former Qatari prime minister.

Talks that began more than two years ago to invest in 666 Fifth Avenue, located in the heart of Manhattan, with Qatar's Sheikh Hamad bin Jassim al-Thani were "recently terminated," a Kushner spokesman, James Yolles, said in a statement to Reuters.

Kushner Cos "is currently reassessing the financing structure of the overall project. The company remains in active discussions with a number of potential investors around the property's redevelopment," Yolles said.

Sheikh Hamad agreed to invest $500 million on condition that the company, recently headed by Jared Kushner, Trump's son-in-law and now one of his senior advisers, obtain the rest of a multi-billion-dollar refinancing elsewhere, The Intercept publication reported on Monday.
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