Kushner Companies
Kushner Companies is a real estate developer in the New York City metropolitan area.
The company's biggest presence is in the New Jersey residential market. It also owns in the Puck Building in New York City. In December 2006, the company announced plans to buy 666 Fifth Avenue for $1.8 billion which is the biggest deal for an individual building in New York City history.[1]
Among the company's owners are Charles Kushner and his son Jared Kushner.
In 2003, New York University and Kushner Properties announced that the University has signed a 15-year lease for three floors, comprising 75,000 square feet (7,000 m2) of contiguous space, in the historic Puck Building, 295 Lafayette Street in Manhattan's SoHo neighborhood.[2]
In early 2007, Kushner bought the building at 666 Fifth Avenue, New York City, for US$1.8 billion, the highest price ever paid for a single office building in the United States.[3][4] Subsequently Kushner shifted focus from his New Jersey real estate operations to the New York market. In July 2007, the Kushner Companies sold 17,500 apartments in the states of New Jersey, Pennsylvania, Delaware, Maryland and New York, valued at $2 billion.[5][6] Before that sale, the Companies had employed approximately 800 people.[3]
In August 2011, representatives from the Kushner Companies made a presentation to the Perth Amboy Redevelopment Agency proposing a scaled-back design concept for the Landings at Harborside, a residential development set to be built along the city's waterfront, and allowing rental housing instead of owner-occupied units as originally planned. The plan, which would save two historic Perth Amboy buildings, was endorsed by Mayor Wilda Diaz, who was quoted as saying "Too many sites have been torn down. Let’s restore them and use them for other purposes." She further said that Kushner sketched a concept for the courthouse that was incorporated into the redesign.[7]
On July 5, 2013, Kushner Companies signed an agreement to purchase a five-building complex formerly used by Jehovah's Witnesses.[8]
The company is developing two large projects at Journal Square in Jersey City. It plans to develop a tower on the site of the former Jersey Journal building as well as twin towers on a vacant lot at Journal Square.[9][10][11][12]
The company owns properties Long Branch, New Jersey.[13]
References
- ^ "A Big Deal, Even in Manhattan: A Tower Goes for $1.8 Billion". New York Times. December 7, 2006.
- ^ Dunlap, David W., (June 22, 2003). "Postings: 2 Floors for Wagner Graduate School; N.Y.U. Leases 3 Floors at Puck Building". The New York Times. Retrieved September 28, 2011.
- ^ a b Elkies, Lauren (November 1, 2007). "The Closing: Charles Kushner" Archived May 31, 2010, at the Wayback Machine. The Real Deal. Retrieved September 28, 2011.
- ^ Bagli, Charles V. (December 7, 2006). "A Big Deal, Even in Manhattan: A Tower Goes for $1.8 Billion". The New York Times. Retrieved November 12, 2007.
- ^ Smothers, Ronald (June 14, 2006). "Newark: Large Real Estate Block Offered for Sale". The New York Times. Retrieved September 28, 2011.
- ^ "Kushner's blow-out sale.", Real Estate Weekly, July 4, 2007. Retrieved September 28, 2011.
- ^ Russell, Suzanne (September 16, 2011). "Perth Amboy's Landings at Harborside project takes new direction". Home News Tribune. Archived April 2, 2015, at the Wayback Machine
- ^ "Purchase Building Complex". jw.org. Retrieved 13 July 2013.
- ^ http://www.nj.com/hudson/index.ssf/2014/03/kushner_reveals_plans_for_old_jersey_journal_headquarters.html#incart_river_default
- ^ http://newyorkyimby.com/2014/03/revealed-30-journal-square.html
- ^ http://www.nj.com/hudson/index.ssf/2014/03/firm_publishes_new_renderings_for_long-stalled_journal_square_twin_towers_project.html
- ^ http://www.hudsonreporter.com/view/full_story/26002821/article-A-big-change-for-Journal-Square--J2-breaks-ground--first-huge-development-in-transit-hub--
- ^ http://www.nj.com/monmouth/index.ssf/2016/11/kushner_settles_lawsuit_with_2_seaside_restaurants.html