Jared Kushner and his family company seemed close to striking a deal in 2016 to transform their aging, money-losing 41-story Manhattan office tower into a new and profitable Fifth Avenue skyscraper twice as tall.
A team led by Kushner and his father, Charles, courted global investors and prospective tenants.
Then Donald Trump became president and Kushner became his father-in-law’s senior White House adviser. Problems ensued.
Kushner met in December with a Russian banker, leading to questions about whether he was mixing his role in the coming Trump administration with his business. A Chinese insurance fund and a former Qatari foreign minister backed away from a potential $900 million investment in the skyscraper. Another foreign funding stream was disrupted when Kushner Cos. came under federal scrutiny for its use of a controversial federal visas-for-investment program at another project.
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