Charles Kushner, the father of President Trump’s trusted adviser/son-in-law Jared Kushner, is in contract to buy three units at a new condominium conversion project at 212 Fifth Avenue, The Real Deal has learned.
The units, spread across the seventh, eighth and ninth floors of the building and totaling 4,614 square feet, were on the market for a combined $13.2 million. Charles made a deal for around $12.5 million, according to a source close to the transaction.
The purchase comes as Charles prepares to take a more active role at Kushner Companies [TRDataCustom], following Jared’s move to Washington D.C. to serve as a special adviser to the president.
Kushner currently splits his time between his home in New Jersey and a co-op apartment at 857 Fifth Avenue. Jared famously took the helm of the company in 2008, following his father’s release from prison for tax evasion, witness tampering and illegal campaign donations.
Both Charles and a spokesperson for the building declined to comment.
The 48-unit conversion underway just north of Madison Square Park is spearheaded by Madison Equities, Building and Land Technology and Thor Equities. The penthouse is asking a whopping $68.5 million, or $6,850 per square foot.
On Tuesday, The Real Deal reported that Jared Kushner sold his stake in the office tower 666 Fifth Avenue to a family trust for an undisclosed amount.