A company owned by the family of President Donald Trump’s son-in-law, Jared Kushner, will make about £330 million from a Chinese firm in an investment deal relating to a New York office tower, Bloomberg reported.

The Kushner Companies will benefit from a “home run” deal involving Anbang Insurance Group over the property at ‪666 Fifth Avenue, Manhattan, the report said.

The $4 billion (£3.3 billion) deal will result in Kushner Co receiving about $400m, raising concerns over a potential conflict of interest involving Mr Kushner, who is also a senior advisor to Mr Trump.

The Bloomberg report said the company would receive a “sizable cash payout” from the Chinese side “for a property that has struggled financially”.

“The deal would value the 41-story tower at $2.85 billion, the most ever for a single Manhattan building,” it added.