Saturday, November 22, 2025 | 03:33 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Kushners give up control of Manhattan Tower; Brookfield to inject $700 mn

The building lost $25 million last year and has almost always been unprofitable

By-invite properties: Wealth may not suffice to open these doors for you
premium

Scott Deveau | Bloomberg
The Kushner family’s real estate company has secured a crucial investment in its over-leveraged New York skyscraper, reaching a deal to lease the building’s office space for 99 years to a Canadian asset manager.
 
The arrangement with Brookfield Asset Management may let Kushner — run by the family of presidential son-in-law Jared Kushner — salvage its biggest single investment, a marquee tower in midtown Manhattan known simply by its address, 666 Fifth Avenue Terms weren’t disclosed.
 
The Kushner family’s years-long hunt for a partner has at times drawn intense public scrutiny, as talks opened with overseas investors, then