Jonathan Kushner, Ironstate take stake in Modern Spaces

Brokerage's chiefs to retain majority interest

New York /
Jan.January 12, 2015 02:00 PM

Jonathan Kushner’s Kushner Real Estate Group and Ironstate Development jointly acquired a minority equity stake in brokerage Modern Spaces. The buyers did not disclose the amount paid for the holding.

The Queens-based residential brokerage led by Eric Benaim and Ted Kokkoris has been planning an expansion that includes a Jersey City push. Kushner and Ironstate could hire Modern Spaces to lease or sell new development projects in New Jersey, but no arrangement has been made yet, Crain’s reported.

“Both of these markets present themselves as great alternatives to living in Manhattan at a much cheaper cost to the user,” Kushner told the publication. “And they both have wonderful transportation to midtown and downtown.”

Veteran broker Evan Daniel jointed the brokerage in September to launch its commercial division

In October, the Related Companies bought a roughly 50 percent stake in boutique residential brokerage CORE, as previously reported. [Crain’s]Mark Maurer


Related Articles

arrow_forward_ios
Sonder co-founder Francis Davidson (Sonder, iStock)
Sonder will merge with SPAC to go public
Sonder will merge with SPAC to go public
Queens, New York
Here are the neighborhoods where homes are flying off the shelf
Here are the neighborhoods where homes are flying off the shelf
Ironstate’s Michael Barry on his firm’s aggressive expansion plans, rental concessions and the state of the condo market
Ironstate’s Michael Barry on his firm’s aggressive expansion plans, rental concessions and the state of the condo market
Ironstate’s Michael Barry on his firm’s aggressive expansion plans, rental concessions and the state of the condo market
Is Modern Spaces CEO Eric Benaim the brokerage king of Queens?
Is Modern Spaces CEO Eric Benaim the brokerage king of Queens?
Is Modern Spaces CEO Eric Benaim the brokerage king of Queens?
With more condos rolling down the pipeline, LIC resi brokerages jostle for business
With more condos rolling down the pipeline, LIC resi brokerages jostle for business
With more condos rolling down the pipeline, LIC resi brokerages jostle for business
Analysis: These resi brokerages are primed to cash in on Amazon’s LIC move
Analysis: These resi brokerages are primed to cash in on Amazon’s LIC move
Analysis: These resi brokerages are primed to cash in on Amazon’s LIC move
Modern Spaces defends home turf, hires BHS vet to lead LIC office
Modern Spaces defends home turf, hires BHS vet to lead LIC office
Modern Spaces defends home turf, hires BHS vet to lead LIC office
Modern Spaces slaps Compass with agent-poaching suit
Modern Spaces slaps Compass with agent-poaching suit
Modern Spaces slaps Compass with agent-poaching suit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...