Kushners’ Indebted Tower May See Vornado Unload Its Stake
- Building at 666 Fifth Avenue in Manhattan is troubled
- Kushner Cos. sought investors for deal in China, Saudi Arabia
Jared Kushner’s Rise to Power Mirrors Trump's
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Vornado Realty Trust, which owns 49.5 percent of an indebted Manhattan office tower that is majority-owned by Kushner Cos., said it doesn’t plan to keep its stake in the building for long.
The company recategorized how it accounts for the property, 666 Fifth Ave., because “we do not intend to hold this asset on a long-term basis,” according to Vornado’s annual report, filed Monday.