Image by Kushner.com

Jared Kushner has sold his stake in his family’s office tower and business headquarters in midtown Manhattan, as part of his promised effort to avoid conflicts of interest while serving as a White House senior adviser.

“Mr. Kushner’s ownership interests were sold using a third-party appraisal for fair market value to a family trust, of which he is not a beneficiary,” a spokesman for the Kushner Companies real estate firm told the Real Deal. The price of the sale of the 666 Fifth Avenue property was not disclosed, nor was it known who controls the family trust.

Kushner bought the building a decade ago, at the height of the New York real estate bubble, for almost $2 billion, in what’s now seen as an over-sale. Kushner Companies operates out of the tower along with other businesses that lease space from the corporation.

Forwarding the News

Thoughtful, balanced reporting from the Forward and around the web, bringing you updated news and analysis each day.

Terms(Required)

I agree to the Forward's Terms of Service and Privacy Policy

Email(Required)

Some said Kushner’s appointment was illegal under anti-nepotism statutes, but it was ultimately decided that those rules didn’t apply to the White House.

The Fifth Avenue building specifically attracted attention after The New York Times reported that Kushner had entered into an agreement with a Chinese conglomerate to redevelop the property.

Represented by former Bill Clinton official Jamie Gorelick, he has responded by stepping away from Kushner Companies and promising to divest himself of foreign investments and various stocks.

Contact Daniel J. Solomon at solomon@forward.com or on Twitter @DanielJSolomon

A message from our CEO & publisher Rachel Fishman Feddersen

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

The coming year promises to be filled with more complex and historic developments. We are entering an era where independent, fact-based Jewish journalism will be more important than ever. We need to be ready for whatever 2025 will bring, and with your help, we can be.

We’ve set a goal to raise $260,000 by December 31. That’s an ambitious goal, but one that will give us the resources we need to invest in the high quality news, opinion, analysis and cultural coverage that isn’t available anywhere else.

If you feel inspired to make an impact, now is the time to give something back. Join us as a member at your most generous level.

—  Rachel Fishman Feddersen, Publisher and CEO

With your support, we’ll be ready for whatever 2025 brings.

$36 $500

$120 $180 Other amount