Kushner Companies Seeking $250 Million to Pay Off Chinese Backers -
By JESSE DRUCKER and CHARLES V. BAGLIJUNE 5, 2017
The real estate company owned by the family of Jared Kushner, son-in-law
and senior adviser to President Trump, is seeking $250 million to pay off its partners and lenders in a Jersey City apartment tower financed by Chinese investors through a program criticized as offering United States visas for sale.
His stake in various Kushner family projects, with some other investments, could exceed $600 million,
according to the government ethics filing, which lists a trust that owns a company called 65 Bay L.
But he has retained economic interests in most of the company’s projects, including the
Jersey City building, at 65 Bay Street, according to his government ethics disclosure.
The family business, Kushner Companies, spent about $225 million to build the luxury high-rise building, called Trump Bay Street.
On projects like the one in Jersey City, longer-term financing — with lower interest rates — is typically
not available until the building reaches at least 50 percent occupancy, which this building now has
In preparation for his role as a White House adviser, Jared Kushner divested some of his stakes in the family business and other investments.