BREAKING NEWS

Partial owner of Kushner's New York flagship property willing to sell

By REUTERS

APRIL 10, 2017 19:06

NEW YORK - Efforts to breathe new life into an aging Manhattan office building that is the flagship property of the family of President Donald Trump's son-in-law has gained a green light after a partial owner of the building indicated a willingness to sell.

Steven Roth, chairman and chief executive of Vornado Realty Trust, said in a letter to its shareholders that there had been "much press" recently about 666 Fifth Avenue, a 60-year-old building that Vornado owns with the Kushner family.

"This is an ongoing, complex, dynamic, and unpredictable situation," Roth said in the letter dated April 4.

Vornado has a joint venture in the building with Kushner Cos., a real estate company whose chief executive until recently was Jared Kushner, an adviser to Trump who is married to Trump's daughter Ivanka. Jared sold his interests to a family trust in January.

Vornado declined to elaborate on Roth's letter, first reported by the New York Post late on Friday.

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