The 666 Fifth Avenue building in New York
Financial terms of the deal were not disclosed, but the arrangement would see Brookfield take over leasing and operations of the 41-story tower and spend hundreds of millions to overhaul the building, executives briefed on the pending deal told the New York Times.
Brookfield Properties, a publicly traded company that counts the Qatar Investment Authority as a major investor, is in talks to take ownership of 666 Fifth Avenue, a Manhattan skyscraper that represents one of the largest blunders in the recent history of NY real estate, the Times reported.
Mr. Kushner and his son Jared, President Trump's son-in-law and one of his key advisers, bought the office tower, which is between 52nd and 53rd Streets, 11 years ago for a record-setting $1.8 billion.
Jared Kushner stepped down as chief executive of Kushner Companies in January 2017, when his ownership stake was put in a trust.
Bumble Bee CEO charged with price-fixing
Bumble Bee, based in San Diego, pleaded guilty a year ago to a criminal charge of conspiring to fix tuna prices. The market for canned tuna across the USA has been dominated for a long time by just three companies.
Prince William's children get starring roles at brother's wedding
United States actress Markle, 36, grew up in Los Angeles and remains close with her parents, who divorced three decades ago. But royal household butler Grant Harold told Express .co.uk last month the two weddings are completely different affairs.
Ernesto Valverde explains Lionel Messi cameo and Barcelona's South Africa inspiration
It wasn't long before Valverde introduced sensational striker Lionel Messi into the attractive game much to the thrill of the crowd.
That plan raised concern over whether Jared Kushner's White House role and his proximity to the president - who is also his father-in-law - might have helped grease the wheels for the deal, particularly as Anbang had close ties to the Chinese government.
Andrew Brent, a spokesman for Brookfield, and Christine Taylor, a spokeswoman for Kushner Cos., didn't immediately respond to requests for comment.
The Qatar Investment Authority, which invests on behalf of Qatar's government, is the largest owner of the the unit, Brookfield Property Partners LP, according to data compiled by Bloomberg. His real estate holdings and other investments are worth as much as $761 million, according to government ethics filings. And the Qatar fund and Brookfield have teamed up on several real estate deals in the United States and elsewhere in recent years, including Brookfield's retail and apartment complex, Manhattan West, now under construction on the West Side.
The deal would buy out the Kushners' current partner, Vornado Realty Trust, which owns 49.5 percent of the building's offices. Recently Kushner Cos. has lost millions a year on the building due to low occupancy and high mortgage interest payments.
Recommended News
-
17 May 2018Cohen Reportedly Solicited Money From The Qatari Government
In a memo to employees, AT&T CEO Randall Stephenson had said the company made a "big mistake" in hiring Cohen as a consultant. CREW, a liberal-leaning watchdog group, filed a complaint with the ethics office that was referenced in Apol's letter .
17 May 2018Reuben Foster's ex-girlfriend admits domestic violence claim was 'money scheme'
On Thursday, Foster was back in court for a preliminary hearing on his domestic violence, criminal threats, and weapons charges. Foster was arrested for the incident in February and is accused of physically attacking his 28-year-old live-in girlfriend.
17 May 2018Analysts' Review under Consideration: Abaxis Inc (ABAX)
Shares of ABAX stock traded down $0.58 during trading hours on Tuesday, reaching $72.72. 4,076 are owned by Peak6 Investments Lp. It turned negative, as 12 investors sold Abaxis, Inc . shares while 40 reduced holdings. ( NASDAQ : ABAX ) for 3.66 million shs. -
17 May 2018FDA approves first nonopioid drug to ease withdrawal symptoms
The new compound itself is not without side effects; Lucemyra can cause dizziness as well as low blood pressure and heart rate. The safety and efficacy of Lucemyra have not been established in children or adolescents less than 17 years of age.
17 May 2018US Fertility Rates Hit Record Low in 2017
Pre-term babies and low birth weights dropped for the third straight year, and Cesarean deliveries rose slightly. Broken out by age, the 2017 birth rate fell for teenagers by 7 percent, to 18.8 births per 1,000 - a record low.
17 May 2018'Fortnite' adds first taste of ranked play with 'Solo Showdown'
It's essentially a scored mode for the best Battle Royale players, who will be able to earn a lot of V-Bucks for their trouble. Insanely popular battle royale title Fortnite could be getting a competitive mode if a new report is to be believed. -
17 May 2018Fan Sues Cardi B, Offset for Post Met Gala Bodyguard Beatdown
Beckford-Dawkins says she and friends spotted Cardi while the rapper was leaving the Fendi store at CityCenter on the Vegas strip. According to officials, no cops or emergency workers were called to the scene of the crash, and no accident report was taken.
17 May 2018Guatemala opens Israeli embassy in Jerusalem after USA move
Egyptian President Abdel Fattah al-Sisi said Egypt was in communication with both sides "so that this bloodshed would stop". Israel says Hamas militants have also tried to carry out bombing and shooting attacks under the cover of the protests.
17 May 2018Congress stakes claim to form government in Manipur
The Congress now has 16 members in the Goa Assembly as one of its legislators Vishwajeet Rane joined the BJP a year ago . Former Meghalaya CM Mukul Sangma has also sought time from the Governor of the state for a meeting on Friday. -
17 May 2018Malaysian police searches 2 of ex-PM Najib Razak's residences
Amar Singh of federal police headquarters says searches are being conducted simultaneously at five locations. A press conference would be held once all the searches were done.
17 May 2018Zuckerberg agrees to European parliament meeting
While Nix has testified once to the committee, lawmakers want him to give further evidence - a request he had previously declined. But the decision to hold the meeting with the European Parliament behind closed doors has angered others.
17 May 2018Taylor Swift stalker sentenced to 6 months in jail
The 28-year-old singer was terrified in March a year ago when Jaffar broke into her apartment, according to media reports. He was arrested while trying to break into Swift's home wearing one of the masks and a pair of gloves.
