At Manhattan Tower, debt payments and losses increase
President Trump's son-in-law has divested his interest in the tower to family to prevent conflicts of interest
New York
LOSSES widened at the Manhattan office tower co-owned by the family of Jared Kushner, President Donald Trump's son-in-law, as debt payments increased in 2016, according to documents filed by the managers of the loans.
Net operating income at 666 Fifth Ave grew 2.7 per cent from the prior year to US$41.3 million, while debt payments rose 11 per cent to US$55.8 million, the figures filed by LNR Partners show.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Luxury private home rents jump in Q1 amid wider market slump: Huttons Asia
Evictions surge in Arizona with housing shortage and rising prices
China property shares firm after Politburo highlights clearing inventory
Dubai billionaire’s children plan to revive troubled world islands
UK commercial real estate lending plunges to lowest in a decade
Hybrid, flexible working set to curb Singapore office usage and rents