The New Jersey development, which raised conflict of interest concerns, has suffered a slew of problems: the exit of its anchor tenant, the loss of millions in tax breaks and a curdling relationship with the mayor of its host city. The mayor’s shift and the exit by tenant WeWork, which is also expected to sell its stake in the project, add up to a sharp reversal of fortunes that led the family company to do what it has done before: seek Chinese investors. |