NEW YORK — The Kushner Cos. is in talks to buy out its partner in a Manhattan skyscraper that has been losing money for years, said a spokeswoman for the family real estate developer.
Christine Taylor said the family firm, once run by President Donald Trump's senior adviser and son-in-law, Jared Kushner, is negotiating with Vornado Realty Trust for its 49.5 percent stake in 666 Fifth Avenue.
The Kushner Cos. had sought billions from abroad to fix up the 1950's-era office tower, at one point reaching out to aand China's . The efforts were largely abandoned after critics said the financing raised issues, with Kushner Cos.' former CEO in the White House and helping to shape foreign policy.
Offices in the building are about a third vacant and a $1.2 billion mortgage is coming due early next year. Vornado's CEO last year called the building "," meaning it owes too much money.