When the family of presidential son-in-law Jared Kushner and China’s Anbang Insurance Group announced plans to redevelop a Zaha Hadid-designed skyscraper at Manhattan’s 666 Fifth Avenue, just about everyone, from lawmakers to government ethicists, balked. Although the deal would have helped transform the Kushners’ struggling office-and-retail property into a 1,400-foot mixed-use tower with retail space, high-end condominiums, and an 11-story hotel, negotiations eventually buckled under ...

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