Deals
Vornado Says It Has ‘Handshake’ for Kushners to Buy It Out of 666 Fifth Ave.
- CEO says he believes he has deal to sell interest in 666 Fifth
- Tensions have increased as $1.2 billion mortgage looms
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Vornado Realty Trust says it has an informal agreement to sell its interest in Manhattan’s 666 Fifth Ave. to Kushner Cos., the firm run by the family of presidential son-in-law Jared Kushner.
The statement, released late Friday, seemed oddly timed and appeared to catch the Kushners off guard. It wasn’t clear whether they’d lined up financing for the more than $1 billion required.