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Kushner Cos. Spent the Trump Years Unwinding Scion’s Costly Bets

  • Family real estate business is pulling back from New York
  • If Jared Kushner returns, he’ll find a focus on suburban homes
Jared Kushner
Jared KushnerPhotographer: Win McNamee/Getty Images

Guy Fieri’s Times Square restaurant, where Jared Kushner and Ivanka Trump partied in late 2016 before heading to Washington, is gone. The office tower at 666 Fifth Ave., once the headquarters of the Kushner family’s real estate empire, has been sold. So too has a stake in a project in the trendy Dumbo neighborhood of Brooklyn.

New York looks a lot different now than it did before Jared Kushner left town to take a job as a senior adviser to his father-in-law, President Donald Trump. Kushner Cos., the company where he was chief executive officer, has pulled back from the city, winnowing almost a decade’s worth of investments in a few years. Instead, it has relocated its ambitions to apartment complexes in New Jersey and Florida.