A Times Square retail property owned by Kushner Cos., the family company of former presidential adviser Jared Kushner, is a step closer to foreclosure, according to loan documents.

“Legal counsel has been engaged and foreclosure actions have been filed,” according to Wells Fargo & Co., the trustee on the debt.

Representatives for Kushner Cos. didn’t immediately respond to a request for comment.

The building at 229 West 43rd Street, which used to house the New York Times, is only about half occupied. It was reappraised at $92.5 million in 2020 and counted Bowlmor and, until December, Guitar Center as tenants. The building was appraised at $470 million in 2016.