Kushner walks away from 700 Broadway

Developer Jared Kushner has reportedly walked away from a deal to buy 700 Broadway from the Lincoln Property Co. for about $80 million. Kushner reportedly forfeited his deposit after movie mogul Harvey Weinstein had second thoughts about becoming the building’s sole tenant, as planned. Meanwhile, Kushner is still working on selling the 90,000 square feet of retail space at 666 Fifth Avenue, which he bought for a record $1.8 billion last year. He needs to sell the retail space to pay off bridge loans from the highly-leveraged purchase.