At Kushners’ Flagship Building, Mounting Debt and a Foundered Deal

NEW YORK TIMES | on Mon, Apr 3, 10:32 AM

More than a quarter of the office space in the building sits vacant. According to an analysis by Trepp L.L.C., a data and analytics firm that tracks bank lending, 666 Fifth Avenue has not generated enough money to pay its debts for several years, forcing the owners to cover the shortfall — at least $10 million in 2015. And that gap is growing. The interest-only $1.2 billion mortgage comes due in less than two years. “This building has had financial issues for years now,” said Joe McBride, a s...

Read the full article

Semantic processing powered by OpenCalais

Use of the DailyMe service and DailyMe web site constitutes acceptance of the Company's Terms of Service and Privacy Policy.

© 2017 DailyMe, Inc. All rights reserved.