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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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Quote:

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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