JARED KUSHNER CEMENTS HIS STATUS AS THE WORLD’S WORST REAL-ESTATE DEVELOPER

 https://www.vanityfair.com/news/2017/10/jared-kushner-worlds-worst-real-estate-developer

The most obvious example of Kushner‘s incompetence, of course, remains his decision to buy 666 5th Avenue, on the eve of the financial crisis, for what was then a record-setting $1.8 billion, putting down a mere $50 million and borrowing the rest. The $1.2 billion loan—of which the Kushner family holds about half, having sold off chunks of the property—is due in February 2019; attempts to shore up cash have ultimately been rebuffed by everyone from the richest man in France, to Israeli insurance companies and banks, to South Korea’s sovereign-wealth fund, to China’s Anbang Insurance Group and the Qataris. And, somehow, the deal continues to look worse and worse by the day. Per Bloomberg: