From left: Kushner Companies principal Jared Kushner and 200 Lafayette Street (credit: PropertyShark)
Jared Kushner has teamed up with Los Angeles-based CIM Group to acquire a Soho office building for $50 million, the New York Post reported.

The 130,000-square-foot office tower at 200 Lafayette Street, on the corner of Broome Street, has gone into contract. The sellers are investors John Zaccaro Sr. and John Zaccaro Jr. They bought it for $20.5 million in 2006. As The Real Deal previously reported, the pair had been disputing with partners over how to respond to a foreclosure lawsuit filed over a $29.8 million mortgage by an affiliate of Blackrock Financial Management.

The building was being marketed by Robert Burton, senior vice president of sales at Massey Knakal Realty Services, and the Post said Kushner and CIM plan to invest $20 million to convert the interior into state-of-the-art office space. [more]

From left: Area Property Partners chairman William Mack and Vantage president Neil Rubler

As pressure mounts on underperforming commercial real estate in New York City, partnerships are likely to rely more heavily on legal minutiae to battle amongst themselves, legal experts said.

An expected lawsuit by state Attorney General Andrew Cuomo against Vantage Properties could give ammunition to an equity partner of the major city landlord to restructure ownership or remove the landlord from its position in the partnership, legal experts speculated. [more]