Vornado Realty Trust Chairman Steve Roth has for the first time publicly admitted his company may be selling its holding in the Kushner family’s 666 Fifth Ave.
The Kushners are looking to redevelop the office building into a 1,400-foot tall retail, hotel and residential tower while Roth prefers it to remain as is.
“This is an ongoing, complex, dynamic, and unpredictable situation . . . and it is the rare case when we may be sellers,” Roth said in his annual letter to shareholders.
Additionally, in a phrase that reflects a sale is likely to occur, Roth said, “We have excluded 666 Fifth Avenue office from our leasing metrics.”
Vornado owns a 49.5 percent stake in the current 1.4 million-square-foot building controlled by the Kushner Companies, now led by Charles Kushner. His son, Jared, had been leading the company’s leasing and investment efforts until he was named a special assistant to President Trump, his father in-law.
Talks by Kushner with the Chinese conglomerate, Anbang, to invest in the new, $7.5 billion redevelopment were criticized. As The Post first reported, the developer and Anbang parted company over the perception of ethical issues.
A spokesman said the Kushner family company “remains in active, advanced negotiations around 666 Fifth Ave. with a number of potential investors.”
