Kushner sells Observer building for $95 million

TRD New York /
Dec.December 31, 2012 04:00 PM

Updated: 11:10 a.m., Jan. 2:

Real estate developer Jared Kushner has sold 321 West 44th Street, where his New York Observer newspaper is headquartered, in an off-market, $95 million transaction, the New York Post reported.

Real estate investment firms East End Capital and GreenOak Real Estate purchased the 10-story, 228,268-square-foot building, located between Eighth and Ninth avenues. Darcy Stacom of CBRE handled the deal.

The Observer currently occupies the entire sixth floor. It has a five-year lease for its 20,000 square-foot space, but Kushner has an option after one year to move the paper to another of his properties, sources told the Post.

The Observer, which Kushner bought in 2006, has a five-year lease for its 20,000 square feet.

The buyers also co-own 256 West 28th Street and 21-27 Mercer Street, and they joined Aby Rosen’s RFR in a $189.3 million purchase of the Young & Rubicam building at 285 Madison Avenue. [NYP]Hiten Samtani


Related Articles

arrow_forward_ios

Kushner-backed Cadre raised $90M through anonymous offshore vehicle since 2017

Mueller Report provides new info on Trump Tower Moscow, Felix Sater and more

Breaking down Jared Kushner’s
Chris Christie vendetta

Kushner brothers-backed Cadre looks to cash in on Opportunity Zones

Kushner Companies to buy LES hotel

Jared Kushner probably hasn’t paid federal income taxes in years: NYT report

National Cheat Sheet: Zillow stock plunges 15% in one day, Softbank’s IPO could be the largest ever … & more

Jared Kushner ordered Observer staff to remove posts about Neil Rubler,
Adam Silver: report

arrow_forward_ios