Jared Kushner Tried and Failed to Get a Half-Billion Dollar Bailout From Qatar

[Laxman]

4. If The Financial Description.....

is accurate-and I have no reason to challenge what this article sets forth- then just what was going on here? Nobody makes an investment of that size without financial projections that justify risking that kind of capital. How is the decision to pay twice the going rate per square foot justified? How do you get into a deal that size without the reasonable expectation that the rental income would generate cash flow to even come close to covering the debt service? This isn't just a bad deal, this deal stinks. On its face it didn't make sense when it was made, let alone after the market conditions made it an unmitigated disaster. It was a disaster before the market tanked. How do sophisticated successful and experienced real estate operators like the Kushners make a deal like that? There has to be something else at play here. It just doesn't make sense. Jared's ego is doesn't cover it. And as for "improving the property" to increase the value-who the heck is going to make a construction loan secured by an underwater asset? What value would the Qataris get out of this even if they had bailed Kushner out? Something just doesn't smell right. What were/are the Kushners up to?