Of course this will succeed. Any journalism that casts doubt as to the future of this project will be deemed “fake news” and discarded LOL.
“Mr. Kushner: ‘Tear down this wall!’”
lol, CNN and NYT covering this… shocked.
Fox News would probably report that the height should be bumped to 2,000’!
Wasn’t there a chemical attack in Syria?
Eh, who cares. The president’s douchy son-in-law is involved in real estate troubles. Much more newsworthy.
Sure, by places like here, Curbed, etc,
CNN and NYT don’t run major pieces on every troubled NYC development.
If you mean what Jared should be paying more attention to, yes.
If you mean us… um… this is a development / real estate site. Syria is very important, but also completely off-topic in this context.
I do not think Jared can do anything about this. He no longer runs the business and could run into serious ethical and legal issues if he were to intervene.
Let’s be serious here. There will be no ethical or legal repercussions for Jared for anything he ever does in his life.
And I never suggested that this site should cover Syria. My only point is that the news websites/cable TV focusing on this 666 crap is a distraction from real news.
I really don’t think coverage of this tower is causing CNN or the Times (or anyone else) from covering other world news events.
whatever happened to this? It seems Lyle Lanley has set his sights on Jersey City. He wants tax breaks.
Another tenant is vacating, and this tower is almost empty.
I hope that Kushner or whoever acquires this tower at a foreclosure auction redevelops it into a mixed use tower!
This would rise during a future cycle and might even be better than the Park Lane site.
Unless Kushy can line up some Gulf money, he’ll likely lose it. Hopefully, after the foreclosure, the lenders will team up with Related or Hines to create the trophy tower that this site warrants.
I’m convinced at this point that This tower will be foreclosed. I don’t think that the Middle Easterners will want to touch this.
I really hope that this heinous POS is redeveloped.
I wonder if Kushner will get anything done during Trump’s tenure. They recently picked up 85 Jay in BK, if they get that project moving it will be a good sign. “660 5th” is a lost cause for them though.
He basically has a year and a half to find a savior. Otherwise, this will be foreclosed when he defaults in February of 2019.
The Chinese are scaling back on risky overseas investments, and after Congress and the courts have enabled nuts to seize Saudi and Iranian assets in the US, Middle Easterners are less likely to invest. In fact, that craziness may cost NY the Aramco IPO.
The saga continues.
UPDATE 4/9/2018: Vornado chief Steven Roth announced Friday that it had made a “handshake” deal with Kushner Companies to sell its 49.5 percent stake in 666 Fifth Avenue, Bloomberg reports. He did go on to note that the deal wasn’t finalized, and that there was a chance that it would fall through. The current $1.2 billion mortgage on the building is due next February, and it’s not yet clear if Kushner Companies has produced the finances to pay that off or to buy Vornado’s share.
It looks like this is headed for foreclosure, and Zaha will be robbed once again of a New York tower.
He clearly has a backer that hasn’t been disclosed. Something amazing will rise here.