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  #161  
Old Posted Feb 27, 2018, 11:57 PM
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Quote:
Originally Posted by JMKeynes View Post
If Kushner seeks to buy out Vornado, he must have a deep pocketed partner waiting in the wings. If he did not, I don't see how he wouldn't default when the loans come due next year.
I certainly hope. Time to kick start this potentially massive site.
     
     
  #162  
Old Posted Feb 28, 2018, 12:41 AM
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Excellent news. Great to hear that Kushner Cos is serious about this site.

It’s truly amazing; while the rest of the world redevelops surface lots into skyscrapers, only NYC redevelops skyscrapers into taller skyscrapers.
     
     
  #163  
Old Posted Feb 28, 2018, 12:56 AM
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Originally Posted by Skyguy_7 View Post
Excellent news. Great to hear that Kushner Cos is serious about this site.

It’s truly amazing; while the rest of the world redevelops surface lots into skyscrapers, only NYC redevelops skyscrapers into taller skyscrapers.
And some of these skyscrapers would be new tallest for many cities. Its like some cities wish they could have a structure of that height, and NY has the nerve to demo it (270 Park), and say... "I want more!".

But goes to show the scale. Some sections, even a 1000 ft is not as profound as it would of been 20 years ago.
     
     
  #164  
Old Posted Feb 28, 2018, 3:22 AM
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Originally Posted by Busy Bee View Post
He wants to get it under way before his inevitable prison sentence.
He just got out, why would he be going back?


Quote:
Originally Posted by JMKeynes View Post
This has the potential to be the BEST residential site in NYC.
A prime 5th Avenue site, with park views. Huge potential here.
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  #165  
Old Posted Feb 28, 2018, 2:46 PM
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He just got out, why would he be going back?
Sonny boy, not daddy. Watch the news much?
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  #166  
Old Posted Feb 28, 2018, 5:43 PM
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Sonny boy, not daddy. Watch the news much?
"Sonny" has nothing to do with this development, and hasn't for a while. Try and keep up and leave you politics out of it.
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  #167  
Old Posted Apr 7, 2018, 1:01 AM
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https://therealdeal.com/2018/04/06/v...ake-to-kusher/

Vornado announces “handshake” deal to sell 666 Fifth stake to Kushner
Steve Roth's firm will hold onto the retail






By Will Parker
April 06, 2018


Quote:
Vornado Realty Trust chairman Steve Roth said Friday he had a “handshake” deal to sell the company’s 49.5 percent stake in 666 Fifth Avenue to the office building’s majority owner, Kushner Companies.

In the company’s annual letter to shareholders, Vornado said it intended to retain its ownership in the building’s retail condominium, even if the deal to sell its office stake goes through.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
     
     
  #168  
Old Posted Apr 9, 2018, 3:16 PM
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https://www.google.com/amp/s/thinkpr...6c12de50c/amp/

Quote:
In a filing with the SEC on Friday, Vornado revealed the existence of an extraordinary “handshake” agreement that would not only refinance the $1.2 billion but allow the Kushners to buy out Vornado’s portion of the debt. This means the Kushners would once again own the entire office tower and Vornado would own only the retail space.

Quote:
As of now, neither the Kushners nor Vornado is revealing who is facilitating the deal
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
     
     
  #169  
Old Posted Apr 9, 2018, 4:41 PM
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Why was my post about Prince Salmon deleted?

I can definitely see Saudi investment here. I envision a new Saudi consulate and embassy to the UN. A seven star hotel and hyper luxury condos. An Islamic Cultural Center would be nice too.
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  #170  
Old Posted Apr 9, 2018, 6:25 PM
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Why was my post about Prince Salmon deleted?

I can definitely see Saudi investment here. I envision a new Saudi consulate and embassy to the UN. A seven star hotel and hyper luxury condos. An Islamic Cultural Center would be nice too.
Unless or until he is involved, this has nothing to do with him, and certainly doesn't warrant a photo of him.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
     
     
  #171  
Old Posted Apr 9, 2018, 9:52 PM
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https://www.nytimes.com/2018/04/09/n...ice-tower.html

By CHARLES V. BAGLI
APRIL 9, 2018


Quote:
In an interview on Monday in his office on the 15th floor of the building, Charles Kushner declined to share details. “We’re finalizing a contract, which we’re negotiating now,” he said.

Mr. Kushner acknowledged that he had abandoned plans to demolish the existing aluminum-clad office tower to make way for an 80-story, ultraluxury skyscraper designed by the architect Zaha Hadid. The tower was to include a lush retail mall, a high-end hotel and the pricey apartments, at a prime location in the city.

That will not be built, he said on Monday. “It’s definitely not a knockdown,” Mr. Kushner said. “It’s definitely not the original plan.”

So what is going to happen?

“We don’t know what we’re going to do,” he said. “We’re weighing our options.”


Quote:
According to real estate executives who have spoken to the developer but who requested anonymity for fear of becoming embroiled in a dispute potentially involving Mr. Trump, Mr. Kushner plans to upgrade the office space at the base of the building and is considering converting the top floors into condominiums.

But, anything Mr. Kushner does at 666 Fifth — renovate and sign new leases for the office space, create condominiums or some combination of the two — could cost hundreds of millions of dollars, at a time when most analysts say the building may not be worth as much as its mortgage.
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NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
     
     
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