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Re: Kushner in New Jersey unraveling
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Michael Cohen steered prominent EB-5 exec to Squire Patton Boggs

USIF's Nick Mastroianni paid the law firm $370,000 to lobby Congress, the White House on investor visa issues

By Will Parker | May 10, 2018 11:05AM

Nicholas Mastroianni, the founder of the U.S. Immigration Fund regional center for EB-5 investment, was brought to the Squire Patton Boggs law firm as lobbying client by Michael Cohen, President Trump’s longtime personal attorney.

The Wall Street Journal reported that Mastroianni paid Squire Patton Boggs $370,000 to lobby Congress and the Trump administration on EB-5 matters.

Mastroianni confirmed he is one one of five clients that U.S. prosecutors for the Southern District of New York said were steered to Squire Patton Boggs by Cohen during a short-lived “strategic alliance” with the firm. Mastroianni told the Journal that he met with Cohen sometime last year at his Rockefeller Center office and was later put in touch with lobbyist Edward Newberry. Cohen is being investigated for potential fraud and other matters related to his $130,000 payment of hush money to adult film star Stormy Daniel, who alleges she had an affair with the president.

Cohen, who received $500,000 a year to bring clients to Squire Patton Boggs, has not been indicted on any charges by prosecutors. On Tuesday, it was revealed that Cohen’s firm Essential Consultants received a $500,000 payment last year to a fund linked to a Russian oligarch with ties to the Kremlin.

In a February 2017 interview with The Real Deal after Trump took office, Mastroianni said that his company had thus far received little indication on policy positions related to EB-5 from the White House. Squire Patton Boggs filed its first lobbying report for work it completed for U.S. Immigration Fund in June of that year.

The revelation that Mastroianni is a Squire Patton Boggs client is also notable given his connection to Kushner Companies and the investigations open against the real estate company for its use of the EB-5 program. U.S. Immigration Fund was working to bring Chinese investors to Kushner’s One Journal Square project in Jersey City, but Mastroianni called it off after a presentation by Jared Kushner’s sister in Beijing referenced the family’s ties to the White House. The presentation caused international controversy and ultimately led to a still-pending investigating by the U.S. Attorney’s office in Brooklyn.

In January, TRD reported that Mastroianni’s firm and Kushner Companies had long abandoned their plans to raise EB-5 financing from China for 1 Journal Square. The company has raised EB-5 funds for HFZ Capital Group, Steve Witkoff, Durst Organization, Forest City Ratner and others.

https://therealdeal.com/2018/05/10/mic ... c-to-squire-patton-boggs/

Posted on: 5/12 20:54
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Re: Kushner in New Jersey unraveling
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The project died the day the prime tenant decided to not go ahead with the deal. The rest if window dressing.

Posted on: 4/29 17:04
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Re: Kushner in New Jersey unraveling
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The saga of 1JSQ has no heroes, but Kushner Cos is not a victim, either.

Posted on: 4/29 10:00
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Re: Kushner in New Jersey unraveling
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Jersey City won’t give Charles Kushner subsidies, but his brother got them

Murray Kushner's firm got $40M in tax breaks to redevelop Journal Square

The mayor of Jersey City, Steven Fulop, has made it clear he doesn’t want to give Kushner Companies a dime of subsidy to build their luxury residential towers at 1 Journal Square. But he didn’t feel that way about giving money to Charles Kushner’s rival brother, Murray.

Kushner Real Estate Group, the firm led by Charles’ estranged brother Murray, received $40 million for its own redevelopment proposals at Journal Square, Bloomberg reported. That project, called Journal Squared, opened last year.

Kushner Companies expected to receive the same treatment, but that changed last year, as protestors lined up to express their outrage that the city would move to subsidize the family of the President Trump’s son-in-law Jared Kushner.

https://therealdeal.com/2018/04/27/jer ... but-his-brother-got-them/


Posted on: 4/29 0:34
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Re: Kushner in New Jersey unraveling
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Quote:

Monroe wrote:
Maybe some snags in JC, but Kushner is doing quite well in the rest of NJ. I was at Pier Village in Long Branch on a Monday and the joint was jumping, and the additional luxury construction was rolling along. The Monmouth Mall property has hit some snags but continues to work just as retail, unlike many similar malls. The thousands of apartment units are cruising.


True Pier Village is great. I love McLoone’s Pier House great ocean views while eating.

Posted on: 4/28 11:26
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Re: Kushner in New Jersey unraveling
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Maybe some snags in JC, but Kushner is doing quite well in the rest of NJ. I was at Pier Village in Long Branch on a Monday and the joint was jumping, and the additional luxury construction was rolling along. The Monmouth Mall property has hit some snags but continues to work just as retail, unlike many similar malls. The thousands of apartment units are cruising.

Posted on: 4/28 11:07
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Re: Kushner in New Jersey unraveling
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Interesting how well the Journal Squared project is doing which is being developed by the other Kushner.

Ha I guess the good Kushner.

Posted on: 4/28 8:31
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Re: Kushner in New Jersey unraveling
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stillinjc wrote:
I would not be surprised if Kushner were 100% correct. It would look bad on Fulop's Democratic resume going forward that he struck a deal with Kushner. In these Twitter-driven times it could be a kiss of death.


Nothing is ever 100% in this blame game banter, but one need look no further than a Key Rat in this Deal's sudden departure from his lucrative JCRA position, the complete disarray of City Hall Operations with emphasis on JC Planning, Zoning & Building Departments & Wildcard Fulop's Pre&Post election Manipulations [check his E.O. writings to date] to see the big picture of why JC has turned Toxic for Investors.

Bracketed Mis-Representational Photo Ops, Theatrics, Unqualified Political Hires, Unidirectional Tweeting & Strong Arm Tactics does not serve to substitute for Professionalism & Timely Production.
Fulop, simply stated, doesn't deliver the goods.

Amateur Hour City Hall Operations coupled with the fact that Fulop has seriously pissed off too many to list here, including some powerful players in the political arena leaving his political capital in question is a real deal-breaker IMHO.


Posted on: 4/28 2:31
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Re: Kushner in New Jersey unraveling
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Say what you like about the man, his crowdsourced “ heap of discarded empty plastic vodka bottles” art installation now on view at the building site is a Brilliant ironic take on his version of consumer values espoused by his family. A true monument that represents so much.

Posted on: 4/25 15:20
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Re: Kushner in New Jersey unraveling
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One of Jersey City’s biggest proposed residential projects is now “in danger of collapsing,” according to the Associated Press. One Journal Square, one of the many projects that Kushner Companies is developing across the Hudson, has been stalled for close to a year, and “a heated exchange of letters and emails with the city” have made it clear that the two sides may not be able to come to an agreement over its future.

The background: Jared Kushner paid $27 million for the vacant site, located smack in the middle of Jersey City’s Journal Square neighborhood, in 2015. The firm had initially courted WeWork as an anchor tenant, but the co-working (and co-living) company backed out of the project earlier this year, forgoing its alleged 50 percent ownership stake in the development and putting a planned tax abatement for the project in jeopardy.

Jersey City mayor Steven Fulop also announced that the city would no longer back One Journal Square, only saying that the project “doesn’t work for us.” For a hot minute, it looked like the project could be revived, but the AP report contradicts that narrative.

According to AP, the Kushners are now “making veiled threats of legal action,” and have alleged that politics—namely, a distaste for Jared Kushner’s role within the White House—are behind the city’s refusal to back the project. They also contend that Fulop backed out of the project in order to win votes in the city’s 2017 mayoral election.
https://ny.curbed.com/2018/4/24/172752 ... urnal-square-steven-fulop

Posted on: 4/25 9:14
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Re: Kushner in New Jersey unraveling
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Kushners' Loan for Troubled N.J. Site Backed by Web Lender

April 24, 2018, 4:23 PM EDTUpdated on April 24, 2018, 9:44 PM EDT

The company owned by the family of presidential son-in-law Jared Kushner says Jersey City, New Jersey, a Democratic stronghold, is blocking its plan to build two towers because of politics and hinted a lawsuit is possible. Behind the fight there’s another struggle: paying for the project.

The Kushners obtained temporary funds from a web-based lender that specializes in risky loans shunned by other financial firms, Bloomberg has learned. Earlier plans for the project at 1 Journal Square collapsed when WeWork, the workspace startup, left. Much of the development’s financing had been tied to its participation.

https://www.bloomberg.com/news/article ... oject-got-web-lender-loan


Posted on: 4/24 23:33
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Re: Kushner in New Jersey unraveling
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Quote:

Adonis wrote:
Kushner already built a tower in JSQ. He's already won.


Different Kushner

Posted on: 4/24 19:53
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Re: Kushner in New Jersey unraveling
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Kushner already built a tower in JSQ. He's already won.

Posted on: 4/24 19:41
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Re: Kushner in New Jersey unraveling
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Read the recent letter from the Jersey City Redevelopment Agency's legal counsel to Kushner Companies. Ties to Trump are the least of the problems.

https://hudsoncountyview.com/wp-conten ... -03-15-Baumann-Letter.pdf


Posted on: 4/24 19:04
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Re: Kushner in New Jersey unraveling
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stillinjc wrote:
I would not be surprised if Kushner were 100% correct. It would look bad on Fulop's Democratic resume going forward that he struck a deal with Kushner. In these Twitter-driven times it could be a kiss of death.


Be that as it may, the mayor (and, the city administration) can not, on a whim, renege on a deal for no good reason which could in turn lead to costly litigation. Exhibit 1: the suspension/delay of the real estate reval.

That is, quite simply, an irresponsible and cavalier attitude about their fiduciary duty to be conscientious and judicious stewards of the people's money. Costly legal battles can and will zap a good chunk of the taxes the city collects from all of us.

It's always a lot easier to make certain stands and bets when gambling with other people's money. I hope the mayor and the city have valid grounds to renege on a deal. If they don't, stop the games and hold up your end of the bargain.

Posted on: 4/24 17:07
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Re: Kushner in New Jersey unraveling
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I would not be surprised if Kushner were 100% correct. It would look bad on Fulop's Democratic resume going forward that he struck a deal with Kushner. In these Twitter-driven times it could be a kiss of death.

Posted on: 4/24 12:08
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Kushner in New Jersey unraveling
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by BERNARD CONDON, The Associated Press
NEW YORK (AP) - First, Jared Kushner's big plans for a skyscraper in Manhattan fell apart. Now, it's the turn of his major twin-tower project across the river in New Jersey.

Plans for a pair of gleaming, 66-story residential towers in Jersey City championed by Kushner when he was CEO of his family company are in danger of collapsing amid a heated exchange of letters and emails with the city.

The Kushner Cos. is now making veiled threats of legal action. It is saying the heavily Democratic city, run by Mayor Steven Fulop, ended negotiations over the project for no good reason, other than perhaps bias against Kushner because he has moved on to become an adviser to President Donald Trump, his father-in-law.

"It is crystal clear that Fulop is now playing politics," Kushner Cos. said in a statement to The Associated Press.

http://www.philly.com/philly/news/new ... 446cb4f48f4bcdda023e.html

Posted on: 4/24 11:20
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