A year ago, Jared pledged to DIVEST himself of 666 5th Avenue, to meet ethics rules.

[pnwmom]

So why does he still own it? What else does he own that he promised to sell?

https://www.politico.com/story/2017/01/jared-kushner-divest-assets-trump-adviser-233368

“Mr. Kushner is committed to complying with federal ethics laws and we have been consulting with the Office of Government Ethics regarding the steps he would take,” Gorelick said, noting that he plans to file a 278 financial disclosure form, required by Cabinet nominees, and comply with the same levels of transparency voters would expect of regular senior government officials.

Kushner will divest from all common stock and over 35 other investments, his attorney said, including: all foreign investments; Thrive Capital, a venture capital fund co-founded by his younger brother, Josh; and his interests in the company’s crown jewel property, 666 Fifth Avenue, where Kushner keeps his corner office. Gorelick said the divestments will be carried out through sales at fair-market value.

Those assets will be sold in part to a trust of which Jared Kushner’s mother, Seryl, is the trustee — but in which he will not be a beneficiary or a contingent beneficiary, his attorney said. Other assets will be sold to his brother, Josh, and to third parties.

Kushner will also resign as manager or authorized signatory of more than 40 Kushner Company entities. And he will recuse himself from participating personally in any government business that would have a direct effect on his remaining financial interests.


https://en.wikipedia.org/wiki/Kushner_Companies

Jared Kushner retained his interest in the building after becoming senior advisor to President Trump, his father-in-law.

[redstatebluegirl]

1. I still find the address amusing. Sign of the devil seems to fit.

[pnwmom]

3. I do, too. Imagine what the fundies would have said if a Clinton had that address?

[redstatebluegirl]

7. No kidding, or if President Obama moved to an address like that.

[MineralMan]

6. Antichrist Tower

[quartz007]

2. This Jared dude is...

more in debt than United states! He is a gambler alright.

[MineralMan]

4. He's way underwater on that building.

If he sells it, he'll still owe money on it. Hilarious.

[marylandblue]

5. Yeah right, He sold it to his mother and brother

No potential for conflict of interest there.

[pnwmom]

8. He sold something to them, but not his interest in this building.

https://en.wikipedia.org/wiki/Kushner_Companies

Jared Kushner retained his interest in the building after becoming senior advisor to President Trump, his father-in-law.[16]

[marylandblue]

14. Says here he sold it

https://www.bloomberg.com/news/articles/2017-10-16/kushner-plan-for-fifth-avenue-tower-is-being-blocked-by-partner

I am pretty sure he sold his stake in Kushner Properties to his mother.

[dalton99a]

9. Evidently Satan refused to accept his divestment

[C_U_L8R]

10. Can't divest if no one's buying.

I wonder if the address was some sort of hint. Things are gonna get hot for Jared.

[Sanity Claws]

12. I also think that is what happened

He doesn't want to sell it for less than he put into it and nobody wants it at that price.

He made a huge mistake in purchasing that building.

[Dave Starsky]

19. He could have bought two stealth bombers for what he paid.

He'd have better luck renting those out.

[pnwmom]

16. You can if you drop your price enough. Instead, he took out new large loans. n/t

[elleng]

11. He, his father, and trump are the same,

anti-social greedy, selfish crooks.

[TreasonousBastard]

13. He can't sell it. Bought at the top of the NY RE market before it crashed and it's not...

a particularly good building anyway. He bought it hoping to tear it down and put up something better. Couldn't get financing for that, but tenants are leaving anyway. And his partner, Vornado, just bailed on him, no doubt leaving him with a very big bag to hold.

So, if he manages to sell it at market value, maybe half of what he owes on it, either he has to immediately come up with the balance or the current mortgage holders will file liens up the ass, scaring away the buyer.

No doubt his father-in-law is counseling him on the grand benefits of bankruptcy.

As for the rest of it, he's letting his brother run things? No blind trust?

How about his father, who is out of prison?

[genxlib]

15. Quite simply

He can't get rid of it. He way overpaid for the building and is so upside down that he can't find anyone willing to pay enough to cover his dept. Not even 10 years later.

It is a middling 60 year old building that isn't even among the 100 tallest in New York.

Not only did he overpay for the building, he did so at the absolute worst possible time. In January 2007, it was clear to anybody paying attention that the real estate market was grossly overvalued and facing a steep decline. But Jared decided that the time was right to make a major move paying more than triple the purchase price from the year 2000.

In case there was ever any doubt, I think we can positively confirm that he is also a terrible businessman in addition to all of his other deficiencies.

[pnwmom]

17. Then he shouldn't have pledged to get rid of it. That was a lie. n/t

[genxlib]

18. Oh, I imagine he meant it when he said it

He desperately wants to unload that bad investment whether he is in the White House or not.

Except he is as clueless about the market value for his white elephant as we was when he overpaid for it.

I am not giving him a pass. He should never have been given the job in the first place for many reasons. But even if he was otherwise qualified, these kinds of financial entanglements should have disqualified him.

Even taking the year to sell should have been unacceptable. That became imminently clear when a Chinese bank offered to overpay for the building in March of last year and only backed down amid the controversy about buying influence.

It is a swamp and the whole bunch of them are a terrifying combination of evil and stupid.