Why Kushner's Grand Development Plans Are on Hold

The transcript discusses Vornado's public acknowledgment that a building project in Manhattan, involving the Kushner family, is unlikely to proceed. Steve Roth of Vornado has been avoiding discussing the project for years, but now confirms its infeasibility due to high costs and the need to acquire retail space. The project aimed to include a 5-story retail mall, but financial and market challenges make it unviable. With debt due in February 2019, Vornado must devise a plan to satisfy lenders and make the building profitable.

What did Steve Roth say about the building's future?

What did the analysts from UBS inquire about?

What reasons were given for the Kushner vision of the building being not feasible?

What was mentioned about the viability of Manhattan retail going forward?

What is the significance of the debt due in February 2019 for Vornado?