New York Post

Roth admits he may exit 666 Fifth

- By LOIS WEISS

Vornado Realty Trust Chairman Steve Roth has for the first time publicly admitted his company may be selling its holding in the Kushner family’s 666 Fifth Ave.

The Kushners are looking to redevelop the office building into a 1,400-foot tall retail, hotel and residentia­l tower while Roth prefers it to remain as is.

“This is an ongoing, complex, dynamic, and unpredicta­ble situation ... and it is the rare case when we may be sellers,” Roth said in his annual letter to shareholde­rs.

Additional­ly, in a phrase that reflects a sale is likely to occur, Roth said, “We have excluded 666 Fifth Avenue office from our leasing metrics.”

Vornado owns a 49.5 percent stake in the current 1.4 million-square-foot building controlled by the Kushner Companies, now led by Charles Kushner. His son, Jared, had been leading the company’s leasing and investment ef- forts until he was named a special assistant to President Trump, his father inlaw.

Talks by Kushner with the Chinese conglomera­te, Anbang, to invest in the new, $7.5 billion redevelopm­ent were criticized. As The Post first reported, the developer and Anbang parted company over the perception of ethical issues.

A spokesman said the Kushner family company “remains in active, advanced negotiatio­ns around 666 Fifth Ave. with a number of potential investors.”

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