Charles and Jared Kushner bought the tower at 666 Fifth Avenue in 2007, when, with a partner, they borrowed $1.75 billion for the purchase. The Kushners sold 666 Fifth Avenue’s prime asset — its Fifth Avenue retail space — for $525 million. Vornado later bought the Fifth Avenue retail space for $707 million. That plan involved demolishing the existing building at 666 Fifth Avenue and erecting a $7.5 billion luxury super tower. But the deal collapsed a year ago, amid criticism from legislators over the connection between Jared Kushner’s political role and the family business.

Source: New York Times May 17, 2018 16:35 UTC