Skip To Content
JEWISH. INDEPENDENT. NONPROFIT.
Breaking News

Chinese Conglomerate in Talks To Buy Manhattan Skyscraper From Jared Kushner’s Firm

China’s Anbang Insurance Group is in talks to invest in a project to redevelop a flagship New York City building owned by Kushner Companies, the family real estate business run by President-elect Donald Trump’s son-in-law Jared Kushner, according to a person familiar with the discussions.

The talks to revitalize the 41-floor building located at 666 Fifth Avenue, were first reported by the New York Times on Saturday in an extensive article about Jared Kushner that detailed a November meeting between him and Anbang Chairman Wu Xiaohui days after Trump won the presidential election. (Link: http://nyti.ms/2i0Wfw3)

The deal has not been completed and key points remain in discussion, the newspaper reported, citing representatives for Jared Kushner. A source, who was not authorized to speak publicly, confirmed the talks to Reuters but did not elaborate.

Representatives for Kushner and Trump did not respond to requests by Reuters for comment, while Anbang declined to comment.

Kushner is married to Trump’s daughter Ivanka and is the chief executive of Kushner Companies. He is believed to be in consideration for a senior White House role as a trusted confidant to his father-in-law, who takes office Jan. 20.

Kushner is studying with lawyers how we would have to divest and distance himself from the family business if he were to take a role in the Trump administration, the New York Times reported.

Kushner will also have to determine whether federal anti-conflict of interest laws, which prohibit the hiring of a family member including a son-in-law, would preclude him working in a government run by Trump.

Privately-owned Anbang, established in 2004 as an auto insurer, has emerged as one of China’s most aggressive acquirers of overseas assets in the past two years, spending more than $30 billion buying luxury hotels, insurers and other property assets. It owns the famed Waldorf Astoria hotel in New York City.

The Fifth Avenue building was purchased by Kushner Companies in 2006 for $1.8 billion, which at the time was the highest sales price for a single building in Manhattan.—Reuters

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

Now more than ever, American Jews need independent news they can trust, with reporting driven by truth, not ideology. We serve you, not any ideological agenda.

At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and the protests on college campuses.

Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.

Make a gift of any size and become a Forward member today. You’ll support our mission to tell the American Jewish story fully and fairly. 

— Rachel Fishman Feddersen, Publisher and CEO

Join our mission to tell the Jewish story fully and fairly.

Republish This Story

Please read before republishing

We’re happy to make this story available to republish for free, unless it originated with JTA, Haaretz or another publication (as indicated on the article) and as long as you follow our guidelines. You must credit the Forward, retain our pixel and preserve our canonical link in Google search.  See our full guidelines for more information, and this guide for detail about canonical URLs.

To republish, copy the HTML by clicking on the yellow button to the right; it includes our tracking pixel, all paragraph styles and hyperlinks, the author byline and credit to the Forward. It does not include images; to avoid copyright violations, you must add them manually, following our guidelines. Please email us at [email protected], subject line “republish,” with any questions or to let us know what stories you’re picking up.

We don't support Internet Explorer

Please use Chrome, Safari, Firefox, or Edge to view this site.