How not do buy property: Trump’s son-in-law’s firm owns property that cannot pay for itself. In 2006, at the height of the real-estate bubble, Kushner’s real-estate firm made an audacious purchase of 666 Fifth Avenue—prime Manhattan property. But just over 10 years later, that deal has reportedly crippled the company and has raised significant questions about Kushner himself.
An in-depth article by Bloomberg News in August gave a dour view of the purchase:
It was 2006—the height of the real-estate market boom—when Kushner Cos. agreed to buy 666 Fifth Avenue for $1.8 billion, then a record for a Manhattan building. All of it was borrowed except for $50 million. The company still holds half of a $1.2 billion mortgage, on which it hasn’t paid a cent. The full amount is due in February 2019.
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Kissinger, per Time Magazine, likens Trump’s son-in-law to Icarus who flew too close to the sun.
“Transitioning the presidency between parties is one of the most complex undertakings in American politics. The change triggers an upheaval in the intangible mechanisms by which Washington runs: an incoming President is likely to be less familiar with formal structures, and the greater that gap, the heavier the responsibility of those advisers who are asked to fill it.
“This space has been traversed for nearly four months by Jared Kushner, whom I first met about 18 months ago, when he introduced himself after a foreign policy lecture I had given. We have sporadically exchanged views since.
As part of the Trump family, Jared is familiar with the intangibles of the President. As a graduate of Harvard and NYU, he has a broad education; as a businessman, a knowledge of administration. All this should help him make a success of his daunting role flying close to the sun.”