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Saturday, August 04, 2018 4:32:20 PM
Because Jared Kushner makes even more catastrophic real estate investments than the Donald, Prezzy Trump has claimed Jared will bring peace to the Middle East, make the US government more efficient and solve opioid addiction - because it's all sooooo easy.
Clearly the only people more gullible than Trump are his witless supporters
To avoid losing all of their assets, the Kushner family has given up their ownership of 666 5th Avenue.
With a 30 percent vacancy rate, an expected loss of $24 million this year, and a $1.2 billion mortgage that is due in February 2019, the alleged stable genius Jared Kushner bought the pile for $1.8 billion at the height of the post-9/11 real estate bubble. Jared imagined razing the property and replacing it with a glimmering Zaha Hadid-designed muslim-themed tower that would require borrowing even more money — [url=https://www.vanityfair.com/news/2017/08/is-jared-kushner-the-worlds-worst-real-estate-investor]including a $4 billion construction loan[/url]. Not even Kushner's sale of Investor Visas to Chinese criminals and daddy Donald's corrupt double-dealing could pull that off. Instead Donald asked China to invest one billion Dollars in an Indonesian project he hopes to collect royalties on - and China stupidly did so with their "Belt and Road" infrastructure funds.
The Kushners are walking away from their entire investment, more than one Billion Dollars of evaporated equity, with Brookfield Asset Management owning the property for the next 99 years. As awkward as Jared Kushner without his toupee.
While Jared and his father-in-law pursue their next daffy scheme, Brookfield will invest $700 million to rehab the building or replace it in a more capable manner. It's apparently easy to be an incompetent real estate investor if your grandfather left you a fortune working as a criminal in the field of prostitution. As long as there's still money left you can pretend to be a success to onlookers who couldn't spot the difference between a success and a failure.
Clearly the only people more gullible than Trump are his witless supporters
To avoid losing all of their assets, the Kushner family has given up their ownership of 666 5th Avenue.
With a 30 percent vacancy rate, an expected loss of $24 million this year, and a $1.2 billion mortgage that is due in February 2019, the alleged stable genius Jared Kushner bought the pile for $1.8 billion at the height of the post-9/11 real estate bubble. Jared imagined razing the property and replacing it with a glimmering Zaha Hadid-designed muslim-themed tower that would require borrowing even more money — [url=https://www.vanityfair.com/news/2017/08/is-jared-kushner-the-worlds-worst-real-estate-investor]including a $4 billion construction loan[/url]. Not even Kushner's sale of Investor Visas to Chinese criminals and daddy Donald's corrupt double-dealing could pull that off. Instead Donald asked China to invest one billion Dollars in an Indonesian project he hopes to collect royalties on - and China stupidly did so with their "Belt and Road" infrastructure funds.
The Kushners are walking away from their entire investment, more than one Billion Dollars of evaporated equity, with Brookfield Asset Management owning the property for the next 99 years. As awkward as Jared Kushner without his toupee.
While Jared and his father-in-law pursue their next daffy scheme, Brookfield will invest $700 million to rehab the building or replace it in a more capable manner. It's apparently easy to be an incompetent real estate investor if your grandfather left you a fortune working as a criminal in the field of prostitution. As long as there's still money left you can pretend to be a success to onlookers who couldn't spot the difference between a success and a failure.
We've run out of other people's Social Security taxes needed to subsidize our low income tax rates.
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