Jared Kushner blasted for exploiting federal loophole in Jersey City real estate deal

Like father-in-law, like son-in-law:

Not to give a multi-million-dollar discount to the presidential son-in-law’s waterfront high-rise, in a booming downtown area, where monthly rent for a two-bedroom is as much as $5,300, and unemployment virtually nonexistent.

This new tower, 65 Bay Street, is located one of the New York area’s hottest housing markets. Yet with a wink from state officials, Kushner and his partners availed themselves of the huge discounts provided by this federal program, by tinkering with city maps to qualify.

Like a politician gerrymandering his own district, they included far-flung, destitute areas like Greenville as supposed beneficiaries of this posh new apartment complex. And Bergen-Lafayette, where nearly 1 in 5 are jobless.

Is Kushner the first investor to do this? Of course not. But it’s evidence that Trump’s son-in-law and advisor is willing to exploit a loophole in a federal program to financially benefit himself – just as he’s been exploiting loopholes in ethics laws to profit from his role in Trump’s presidency.

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