The costly legacy of Jared Kushner's real estate gambles

The family company that Donald Trump's son-in-law once ran has spent the better part of the last four years unwinding its scion's New York property bets.

Since Jared Kushner departed his role in the family real estate business to become an adviser for President Trump, his father Charles has been undoing many of the decisions made by his son. Getty

Caleb Melby and David Kocieniewski

Jan 4, 2021 – 5.58am

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Guy Fieri's Times Square restaurant, where Jared Kushner and Ivanka Trump partied in late 2016 before heading to Washington, is gone. The office tower at 666 Fifth Avenue, once the headquarters of the Kushner family's real estate empire, has been sold. So too has a stake in a project in the trendy Dumbo neighbourhood of Brooklyn.

New York looks a lot different now than it did before Kushner left town to take a job as a senior adviser to his father-in-law, President Donald Trump. Kushner Companies, where Kushner was chief executive officer, has pulled away from the city, winnowing back almost a decade's worth of investments in a few years. Instead, it has relocated its ambitions to apartment complexes in New Jersey and Florida.

Bloomberg