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Kushners Give Up Control of Manhattan Tower to Save Themselves

Kushners Give Up Control of Manhattan Tower to Save Themselves

Kushners Give Up Control of Manhattan Tower to Save ThemselvesThe Kushners have found their out — and it comes at a price. The family firm of presidential son-in-law Jared Kushner will be relieved of the biggest drag on its real estate empire, will no longer face a $1.2 billion debt payment due in months, will be rid of having to overhaul an aging property. Brookfield Asset Management Inc.’s deal for a 99-year lease at 666 Fifth Ave., the Midtown building purchased by Kushner Cos. at the height of the last real estate boom, gives the Canadian giant ownership of the tower in every way but the deed.

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