Kushner Companies, the company owned by the family of Jared Kushner, U.S. President Donald Trump's son-in-law and senior White House adviser, has ended talks with China's privately held Anbang Insurance Group over a real estate investment deal.
The companies have agreed to stop talks over an office tower project at 666 Fifth Avenue, and Kushner Companies is in “advanced negotiations” with other potential investors, domestic news site caixin.com reported Thursday, citing e-mail sent by the company's public relations staff James Yolles.
Anbang told caixin.com that the company has no investment in the project.
Early on March 13, Bloomberg reported that Anbang was considering investing 0 million in the Manhattan tower.
Built in 1957, the 41-floor building covers an area of 142,000 square meters. Kushner Companies spent .8 billion for the property in January 2007.
Anbang has embarked on purchasing real estate overseas in recent years. For example, the insurer bought New York's landmark Waldorf Astoria hotel in 2014 for .95 billion.