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Kushner's Times Square Center Moves Toward Foreclosure [View all]
Jared's family does not have MBS or UAE to bail them out
Link to tweet
A Times Square retail property owned by Kushner Cos., the family company of former presidential adviser Jared Kushner, is a step closer to foreclosure, according to loan documents.
“Legal counsel has been engaged and foreclosure actions have been filed,” according to Wells Fargo & Co., the trustee on the debt.
Representatives for Kushner Cos. didn’t immediately respond to a request for comment.
The building at 229 West 43rd Street, which used to house the New York Times, is only about half occupied. It was reappraised at $92.5 million in 2020 and counted Bowlmor and, until December, Guitar Center as tenants. The building was appraised at $470 million in 2016.
“Legal counsel has been engaged and foreclosure actions have been filed,” according to Wells Fargo & Co., the trustee on the debt.
Representatives for Kushner Cos. didn’t immediately respond to a request for comment.
The building at 229 West 43rd Street, which used to house the New York Times, is only about half occupied. It was reappraised at $92.5 million in 2020 and counted Bowlmor and, until December, Guitar Center as tenants. The building was appraised at $470 million in 2016.
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