- Associated Press - Friday, August 3, 2018

NEW YORK (AP) — The real estate company run by White House adviser Jared Kushner’s family has signed a deal to lease the office space at its money-losing Manhattan skyscraper known as 666 Fifth Avenue.

The Canadian firm Brookfield Asset Management announced Friday it has signed a 99-year lease at the Kushner Cos.‘ midtown tower. Financial terms were not disclosed.

The deal eases the pressure on the Kushner family. The building has been losing money since Jared Kushner bought it for a record $1.8 billion in 2007. A $1.2 billion mortgage is coming due early next year.

Kushner Cos. did not immediately respond to an email seeking comment.

Jared Kushner sold his personal interest in 666 Fifth Avenue before joining the White House as a senior adviser to Republican President Donald Trump, his father-in-law.



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