Kushners’ China Deal Flop Was Part of Much Bigger Hunt for Cash by Bloomberg Graphics
In 2007, the Kushners bought a flagship Manhattan tower at 666 Fifth Ave. for a record $1.8 billion — mostly with debt. An investigation into their finances reveal a real estate company overwhelmed and overleveraged, and still hunting for deals to help pay down the billion-dollar mortgage due in 2019.
Graphics throughout the story punctuate what dozens of interviews and thousands of pages of financial documents have uncovered: Kushner Co. overpaid for an unremarkable building at the height of a bubble, and has had to sell off of its' most valuable pieces simply to stay afloat of debt payments. Executives and family members have sought substantial overseas investment to turn the project around — a process changed profoundly by both the access and scrutiny that comes with Jared Kushner's meteoric rise as Donald Trump's son-in-law and top advisor.