JARED KUSHNER'S FAMILY CORPORATION IS IN THE FINAL
STAGES OF AN EXTREMELY LUCRATIVE REAL ESTATE DEAL WITH THE
CHINESE CORPORATION.
BLOOMBERG REPORTS THAT IN BEIJING INSURANCE GROUP
PLANS TO SHAKE A $4 BILLION DEAL TO INVEST IN KUSHNER
COMPANIES OFFICE IS LOCATED AT 666 FIFTH AVENUE AND MANHATTAN.
IS A REALLY 666?
IT IS.
WOW, THIS IS A DEVIL OF A DEAL RIGHT HERE.
THE DEAL VALUES THAT PARTICULAR BUILDING AT $2.85
BILLION WHICH IF YOU ARE KEEPING TRACK IS THE HIGHEST VALUE
EVER GIVEN FOR A BUILDING IN MANHATTAN.
WITH HOW THAT WORKS OUT, BUT IT DID.
JARED KUSHNER'S FAMILY
WILL YIELD AT LEAST $400 MILLION PERSONALLY OUT OF THIS DEAL.
LET'S BREAK DOWN A LITTLE BIT OF HOW THEY'RE GOING TO GET
THAT MONEY TO A PORTION OF THE DEAL PAYS OF A VAST PORTION OF A
$220 MILLION IN DEBT THAT THE COMPANY HAS INCURRED SINCE
THE LAST TIME THEY REFINANCE THEIR DEBT THAT UNDER THE
TERMS OF THE DEAL, AS A STAND RIGHT NOW, THE
COMMISSIONERS WILL BE ABLE TO RETIRE THAT THAT BY PAYING
OFF JUST $50 MILLION OR 20% OF THE TOTAL AMOUNT.
IF YOU TALK TO REAL ESTATE EXPERTS OF WHICH I AM NOT KNOW
ALMOST NOTHING, THEY ARE SAYING THIS DOES SEEM AND EVEN TO ME
IT DOES SEEM LIKE A PARTICULARLY GOOD VALUE FOR KUSHNER.
, THE FAMILY I SHOULD SAY RATHER THAN JUST HER KUSHNER
PERSONALLY.
IT'S POSSIBLE THAT THE BUILDING, THE REAL ESTATE IS BOOMING
AND THINGS ARE WORKING OUT FOR MANHATTAN AGAIN, BUT PEOPLE
ARE SAYING THIS IS NOT A BUILDING THAT IS TYPICALLY
DONE VERY WELL THAT THERE DEAL THAT YOU WOULD VALUE IS SO
HIGHLY SEEMS ODD AND THE TIMING IS OF COURSE SUSPECT.
WE'RE ALL LITTLE BIT CONCERNED ABOUT THE POSSIBLE CONFLICT OF
INTEREST BETWEEN TRUMP AND HIS CIRCLE IN CHINESE CORPORATIONS.
HE JUST GOT THOSE 36 OR 38
PENDING TRADEMARKS PAST A COUPLE OF WEEKS AGO.
WE DO HAVE TO TAKE NOTE THAT JARED KUSHNER SOLD HIS
PERSONAL OWNERSHIP STAY IN 666
FIFTH TO AVOID ANY KIND CONFLICT OF INTEREST OF COURSE THERE
CAN BE A CONFLICT OF INTEREST BECAUSE IT IS JUST HIS FAMILY
THAT WOULD BE ENRICHED AND WHO WOULD BE AFFECTED BY THAT THE
I'M SURE HE WOULDN'T INHERIT ANY OF THAT MONEY OR USE IN
ANY OTHER WAY THAT
IN THIS DEAL, THE DEVIL IS IN THE DETAILS AND I DO KNOW
REAL STATE LITTLE BIT, I WORKED IN IT ON A SMALL SCALE AND
I KNOW FOLKS WHO WORK ON IT ON A LARGE-SCALE.
THEY MAKE $400
MILLION ON A TRANSACTION OF THIS SIZE, IT'S NOT HER SHAKING.
IS A GOOD DEAL ON THE GOT A NICE RETURN ON A BUT IT DOESN'T
NECESSARILY RAISE EYEBROWS IN A NORMAL SITUATION.
BUT THIS IS NOT QUITE NORMAL BECAUSE THE BUILDING WAS NOT
DOING WELL THOUGHT IT WAS NOT IN A POSITION TO TURN A GREAT
PROFIT LET ALONE ANY PROFIT, SO THAT THE BUILDING, IT WAS
BOOMING TIMES AND THE BUILDING IS DOING WELL AND IT'S IN
MANHATTAN AND IT'S A PRESTIGE BUILDING, I DON'T THINK OF THE
STORIES INTERESTING, BUT GIVEN THAT THE BUILDING WAS NOT DOING
WELL GETS RESCUED THEN THERE'S THE STRANGE MATTER OF THE HAVE
AN EXTRA $250 LOAN THAT GETS LOCKED UNDER $50
LOAN, IT DOESN'T WORK THAT WAY.
WHERE THE HELL DID THAT EXTRA $2 MILLION GO?
SOMEBODY ELSE PAY FOR.
NOBODY CASINO WHAT SIA JUST MADE A HUGE PROFIT ON THE STILL
BE YOU NOT TO PAY ME BACK $200
MILLIONÖ A THING THAT HAPPENS IN THE WORLD THAT SOMEONE GOT PAID
BACK THAT $200 MILLION STUFF SO WHO PAID HIM THE $200 MILLION?
WHAT IS IT MEAN THAT THEY ONLY HAD TO PAY 20% OF A?
THAT IS SO WEIRD.
THIS IN BAYING INSURANCE GROUP IS SO CONNECTED TO CHINESE
GOVERNMENT THAT WHEN THEY BOUGHT THE WALDORF-ASTORIA
PRESIDENT OBAMA REFUSED TO STAY THERE BECAUSE THEY WERE
WORRIED THAT IT WOULD BE WIRETAPPED BY THE CHINESE
GOVERNMENT IN THE MIDDLE OF NEW YORK.
THIS IS DEEPLY CONNECTED TO THE CHINESE GOVERNMENT ALL THIS IN
THE KUSHNER'S WHO ARE STRUGGLING WITH THIS BUILDING AND
HANDED A GIANT GIFT BY A COMPANY TIED TO THE CHINESE GOVERNMENT.
WHAT A LUCKY BREAK THEY GOT THE LOOK, THIS IS DEEPLY DISTURBING.
THESE GUYS ARE BRAZEN.
DIDNíT EVEN WAIT A YEAR AND A HALF.
THEY DIDN'T EVEN WAIT TWO MONTHS AND THEY'RE LIKE OH, WHO
KNOWS HOW LONG TRUMP IS GOING TO BE IN OFFICE.
CASH IN.
TO BE FAIR TO THEM, THIS IS AN OLD POLITICAL TRICK.
THE TRUMPS AND THE KUSHNERS ARE NOT THE FIRST TO DO IT.
BUSH PROFITED OFF THE BUSH FAMILY FOR YEARS AND YEARS
AND IT ALL THE SKETCHY DEALS BECAUSE HIS LAST NAME WAS
BUSH AND THEY WERE TRYING TO GET FAVORS AND GEORGE W.
BUSH AND HIS DAD.
GEORGE W.
BUSH GOT BAILED OUT BY THE SAUDI'S WHEN HIS DAD WAS PRESIDENT, WHEN
HE HAD FAILING OIL BUSINESSES IN TEXAS, THESE REPUBLICAN
PRESIDENTS, THEY ARE SO INCOMPETENT BUSINESSWISE.
BUSH COULDN'T MAKE AN OIL BUSINESS IN TEXAS WORK,
TRUMP CANíT MAKE CASINOS WORK AND ALL OF A SUDDEN OF COURSE
IT COMES THESE FOREIGN INTERESTS, THE SAUDI'S, THE RUSSIANS,
THE CHINESE TO KEEP BAILING THEM OUT AND LATER THEY BECOME
PRESIDENT ARE WELL, THAT'S A WIN-WIN FOR ALL OF THEM IN
A GIANT LOSS FOR THE AMERICAN PEOPLE BECAUSE THEY ARE NOT
SERVING US, THEY ARE SERVING THOSE FOLKS.
MY VIEW ON THIS DEAL IS, TO BE CLEAR, THE NEW YORK TIMES DID
A BIG EXPOS…
INTO THE AMOUNT OF FOREIGN MONEY THAT IS GOING AND
GENERALLY INTO REAL ESTATE, THAT RUSSIAN OLIGARCHS, THE CHINESE
GOVERNMENT, PLACES WHERE THERE IS HUGE MASSES OF RELATIVELY NEW
MONEY IF YOU WILL, NEEDS A PLACE TO BE PART AND THEY TRACED
BACK HOW A NEW YORK AND IN LOS ANGELES THAT THERE IS MORE
AND MORE FOREIGN MONEY BEING INVESTED IN REAL ESTATE TO
PARK INVESTMENTS.
IT'S HARD TO KNOW WHETHER THIS IS THAT TREND OR THIS IS THAT
TREND PLUS AN ATTEMPT TO BUY INFLUENCE WITH TRUMPS CIRCLE.
I THINK THE POLITICAL QUESTION HERE THAT IS REALLY IMPORTANT IS
IF YOU KNOW THIS IS A TREND THAT IS GOING ON AND YOU ARE THE
KUSHNER FAMILY TIED TO TRUMP, THE FACT THAT THERE IS NO
ATTEMPT TO EVEN PREVENT AN IMAGE OF A POTENTIAL PROBLEM,
JUST FORGET IT THAT WE DON'T EVEN CARE WHAT IT LOOKS LIKE.
MAYBE IT IS SOMETHING MAYBE IT'S NOTHING BUT WE DON'T CARE
WHAT IT MAY LOOK LIKE OR WHAT QUESTIONS A WAYS IS, THAT
IS THE KIND OF KNEW IT AND WE'RE LIVING AND WHERE THERE IS
NO PRETENSE.
THE BRAZENNESS.
IN THE PAST HE WOULD'VE BEEN WORRIED ABOUT THE APPEARANCE
OF A CONFLICT OF INTEREST THAT THEY LIKE APPEARANCE?
IS JUST TO THE REAL THING.
WHO CARES HAPPENS WITH OF THIS IS THE TRUMP WAY.
I WANT TO GIVE ONE MORE PIECE OF CONTEXT HERE BECAUSE IT IS TRUE,
NEW YORK IS FLOODED BY FOREIGN MONEY AND A LOT OF TIMES PEOPLE
ARE TRYING TO LAUNDER THE MONEY AND GET OUT OF THEIR HOME
COUNTRIES AND SO IT COULD BE A TWOFER, THAT THEY WANT TO DO
THAT AND GET SOME POLITICAL CLOUT ALONG THE WAY BECAUSE THIS
IS A BIG PAYOFF FOR JUST HIDING HER MONEY TO THEIR SAVERS
RIGHT AWAY SAD YOUR MONEY TO
IF YOU'RE LOOKING TO PARK YOUR MONEY IN NEW YORK IN GENERAL AND
YOUR GOVERNMENT WITH BUSINESS BEFORE TRUMP YOUR LIKE I PLENTY
OF DIFFERENT PLACE I COULD INVEST, ONLY, THAT WHEN I ONLY
ALREADY WANT TO BUY NEW YORK AND I WAS ON BY THE KUSHNER'S?
THAT'S A BONUS.
THEY KNOW AT LEAST HOW IT WILL APPEAR WHERE THE WEATHER
THAT'S THEIR INITIAL MOTIVATION ARE NOT THAT ARE NOT WE TALKED
ABOUT ON THE SHOW BUT THERE BEEN A COUPLE OF STORIES OF THE PAST
TWO WEEKS OR SO OF SOME MASSIVE PAYMENTS BUILDINGS TO
DONALD TRUMP THAT THE $90 MILLION THAT ONE BUILDING
THAT WAS APPARENTLY RUNDOWN NEVER ENDED UP BEING USED.
I BELIEVE IN ANY OF THOSE CASES IT WAS CHINESE CORPORATIONS, BUT
THESE THINGS DO HAVE A WAY OF HAPPENING AND WE ALSO KNOW, IT
LOOKS LIKE ONE OF THEIR STRATEGIES MIGHT BE THAT IF WE
HAD ONE INSTANCE OF CLEAR CORRUPTION IT IS EASY TO
INVESTIGATE THAT AND IT LOOKS BAD, BUT MAN IF YOU JUST
PUT SOMETHING OUT EVERY WEEK, YOU FLOOD THEM.
WE GOING TO BE TALKING ABOUT THIS IN A WEEK?
I DON'T KNOW AND I CAN PERSONALLY SURE, BUT I CAN'T
AGAIN, CONTEXT, FOR NATO REALTY TRUST MADE A KILLING ON THIS
DEAL BUT IN A LOT OF WAYS THEY DESERVE TO MAKE THAT BECAUSE
JARED KUSHNER ORIGINALLY BOUGHT THE BUILDING, THIS WAS THIS
BIG THINK THAT HE THAT, USED TO RUN BILLS THEY JUST LIKE TRUMPED
I'VE GOT THE SNOW DADDY THAT HE BOUGHT THE BUILDING AND 07.
OOPS, BEFORE THE CRASH THAT FERNANDO CAME IN AND BOUGHT
49.5% OF THE BUILDING RIGHT AFTER THE CRASH AND THEY
GOT IT FOR A SONG SO WHEN THE ACCIDENT IN THIS DEAL THEY
MADE LIKE 10 FULL THEIR MONEY BUT THAT IS NOT A PROBLEM
THOUGHT THAT WAS A SMART DEAL ON THEIR PART.
KUSHNER DID NOT.
HE BOUGHT IT WHEN IT WAS HIGH, SO IT WAS MUCH
HARDER FOR HIM TO EXIT WITH A PROFIT AND SOMEHOW HE DID
ANYWAY.
BLOOMBERG ORIGINALLY BUT THE STORY AND THEY TRIED TO GET
BOTH SIDES AS MUCH AS THEY COULD SO THEY WENT DISCUSSING HER
AND HE IS A GUY WHO WORKS IN REAL ESTATE AND HE HAS HIS
NAME ON IT THAT HE DOESN'T WANT TO 30S
GUYS UNDER THE BUS SO HE SAYS THE DEAL WAS AGGRESSIVE BUT
NOT ABSURD THAT THE BEST DEFENSE HE COULD FIND WAS NOT ABSURD.
JOSHUA STEIN ON THE OTHER SIDE, ANOTHER NEWER GROWTH A
LAWYER SAYS THIS IS A HUGE EXIT STRATEGY FOR AN OFFICE
BUILDING THOUGHT IT IS A HOME RUN OF A TRANSACTION TO
GIVE YOU THE PROPER CONTEXT.
AND FINALLY, ONE LITTLE EXTRA BIT OF SKIRTING A LOT.
THEY ARE USING EB FIVE HERE TO ALSO GET PEOPLE PATHWAY TO
CITIZENSHIP FOR CHINA, THEY GET TO PARK THEIR MONEY PLUS
THEY GET CITIZENSHIP THAT YOU ARE ONLY ALLOWED TO USE EB
FIVE AND PROJECTS THAT CREATE JOBS IN ECONOMICALLY
DISTRESSED AREAS.
IT IS 5TH AVENUE.
ITíS LITERALLY THE LEAST DISTRESSED AREA ON THE PLANET.
WE KNOW IT IS NOT DISTRESS.
APPARENTLY THE REAL ESTATE IS WORTH WAY MORE THAN IT USED
TO BE.