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Kushner Buys 666 Fifth Stake, Ending Rocky Vornado Partnership

Caleb Melby, Scott Deveau
Kushner Buys 666 Fifth Stake, Ending Rocky Vornado Partnership

Kushner Cos. is buying Vornado Realty Trust out of 666 Fifth Ave., ending a rocky partnership and failed turnaround attempt for the aging and indebted office tower. The deal marks the beginning of a new chapter for Kushner Cos. and the 41-story building, which it purchased at a record-setting $1.8 billion at the height of the real estate boom in 2007. Drowning in debt payments, Kushner Cos. brought in Vornado to help right the ship.