That is a hell of a gamble. Did he not get any investment
advice from his father in law? Or maybe he did. The real crime was done by whoever sold that building to the suckers.
"In 2007, Jared Kushner decided that the real-estate market had nowhere to go but up. And so the 26-year-old mogul decided to plow $500 million of his family’s money — and $1.3 billion in borrowed capital — into purchasing 666 Fifth Avenue for twice the price it had previously sold for. Even if we’d somehow avoided a global financial crisis, this would have been a bad bet: Before the crash, when the building was almost fully occupied, it generated only about two-thirds of the revenue the Kushners needed to keep up with their debt payments."
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In response to this post by NJHoo)
Posted: 03/05/2018 at 5:03PM