The Real Deal New York

Kushner, Extell to market Pier Village
New Jersey condos in New York

Seryl Kushner, mother to Jared, is co-sponsor of the plan with Extell’s Gary Barnett
By Will Parker | March 31, 2017 11:50AM

Seryl Kushner, Gary Barnett and Pier Village (credit: Getty Images, Alistair Gardiner for The Real Deal, and Jersey Shore Premier Properties)

Meet Seryl Kushner, developer.

After buying the Victorian-esque Pier Village resort in Long Branch, New Jersey for about $200 million in 2014, Kushner Companies and Gary Barnett’s Extell Development are now adding 269 condos to the site, and looking to market them in the Empire State, an application with the New York State Attorney General’s office shows.

It’s something of a Jersey Comeback for Kushner. The 492-unit resort was developed by Ironstate Development in 2005, following a successful bid with the city of Long Branch to build the rentals. Charles Kushner also vied for the development but his plans were derailed by then-U.S. Attorney Chris Christie, who prosecuted him for illegal political contributions and tax evasion.

The Kushners eventually landed the Jersey Shore development by partnering with Barnett, who is a co-sponsor of the Pier Village offering plan with Seryl Kushner, mother to former Kushner Companies CEO and current White House adviser Jared Kushner. According to Kushner attorney Jamie Gorelick, Seryl controls the family trust that Jared has transferred an unknown number of his real estate assets into.

The new condo plan is part of the Pier Village project’s long awaited third phase, which will include a hotel and more retail to add to the existing 90,000 square feet around Festival Plaza.

In a 2007 interview with The Real Deal, Charles Kushner called the Jersey Shore “the only place I can really go that I feel I have peace and serenity.”

Representatives for both Kushner and Extell did not immediately respond to requests for comment.

In May, the New York State Attorney General released new guidelines streamlining the process for marketing out-of-state projects. Since that time, the number of out-of-state projects registered with the office has quadrupled.