Charles Kushner nabs three units at 212 Fifth Avenue for over $12M: sources

Trump in-law is taking a more active role in namesake company

TRD New York /
Feb.February 01, 2017 07:00 AM

212 Fifth Avenue and Charles Kushner (Credit: Getty Images)

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 TRData LogoTINY, 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.

Related Articles

The Real Deal picked up 9 awards from the National Association of Real Estate Editors

The Real Deal wins 9 NAREE journalism awards

Robert Gladstone with renderings of 520 Fifth Avenue (Credit: Getty Images and CityRealty)

Bob Gladstone fights Mack Real Estate to keep a piece of beleaguered 520 Fifth site

John Loeb Jr. and 237 East 61st Street in Lenox Hill (Credit: Google Maps and Wikipedia)

These are some of the most notable resi sales of the week

Charlie Kushner fires back about family, business in op-ed

Kushner Companies relists Puck Penthouse with 36% price chop

Kushner Cos. picks up $1.1B suburban multifamily portfolio

Gulliver’s Gate lawsuit against Kushner is thrown out

Here’s what the $20M-$30M NYC investment sales market looked like last week