how not to buy property: Trump’s son-in-law buys 666 Fifth Avenue in New York …. Ten years later, big trouble

 

How not to buy property: Trump’s son-in-law bought 666 Fifth Avenue

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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Aptos Psychologist:   Stick toMonopoly for fun!   written by  licensed psychologist Cameron Jackson, Ph.D.Dr. Jackson’s office address is listed below.   

Monerey Bay Forum

127 Jewell Street
Santa Cruz, CA 95060
United States (US)
Phone: 831 688 6002
Fax: 831 688 7717
Email: jaj48@aol.com

Jared Kushner likened to Icarus by Kissinger

IcarusKissinger, per Time Magazine, likens Trump’s son-in-law to Icarus who flew too close to the sun.

Kissinger writes:

“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.”

Updated by Zack Beauchampzack@vox.com

Zack Beauchamp writes:

“In private life, contra Kissinger, Kushner doesn’t have a lot of successes. His tenure as head of the New York Observer was disastrous, his family real estate company’s flagship skyscraper has low occupancy rates and a serious debt problem, and it’s been credibly reported that his dad bought his place at Harvard with a $2.5 million donation.”

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Monterey Bay Forum: Does anyone really read Time magazine anymore?