The family of Jared Kushner sold a building in New York to Anbang Insurance Group, a Chinese company with known ties to the Chinese government, for $400 million.
The deal revolves around 666 Fifth Avenue and Kushner Companies, a real state corporation owned by Jared Kushner’s family. According to documents, the Kushners also benefited from a reduced mortgage of 1/5th of the current out-standing debt thanks to the deal.
Kushner Companies purchased the building in 2006 for $1.8 billion. Now Anbang is buying the real estate for $4 billion, although at the moment “nothing has been finalized”.
Anbang owns the Waldorf Astoria in New York among other properties they have purchased across the globe and in several countries. Journalists Michael Forsythe and Jonathan Ansfeld explained : “Anbang’s shopping spree is part of an outflow