Kushner Companies hopes to nearly triple its money on BK Heights rental buildings

18 Sidney and 144 Willow asking $20M combined

From left: 8 Sidney Place, Laurent Morali and 144 Willow Street
From left: 8 Sidney Place, Laurent Morali and 144 Willow Street

Kushner Companies is looking to cash in on a pair of brownstone Brooklyn Heights rental buildings it bought in 2014.

The firm — which was until January led by presidential senior adviser Jared Kushner — put the “fully renovated” properties at 18 Sidney Place and 144 Willow Street on the market for $20 million, the New York Post reported. Kushner bought the buildings from Brooklyn Law School for $7.6 million.

The seven-story property at 18 Sidney Place spans 9,785 square feet with 19 units, including a one-bedroom currently on the rental market for $3,850 a month, according to StreetEasy. The five-story building at 144 Willow has 8,230 square feet and 10 units. None are currently on the market, but a one-bedroom was previously listed at $3,259 a month.

Nearly all of the apartments are market rate, except for two rent-stabilized units. The 29 apartments include 11 studios, 14 one-bedrooms and four one-bedroom duplexes. TerraCRG’s Ofer Cohen, Adam Hess and Daniel Lebor, and Rosewood Realty’s Aaron Jungreis and Brendan Cohen, are marketing the properties.

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The buildings are two of the six properties Kushner Companies bought from Brooklyn Law School in 2014 for a combined $36.5 million. Kushner Companies paid just over $3.2 million for 144 Willow and $4.4 million for 18 Sidney, property records show.

Three other buildings purchased at the time —100 Pierrepont Street, 27 Monroe Place and 38 Monroe Place — have been converted into luxury single-family homes. The 7,000-square-foot house at 27 Monroe, which was asking $16 million, recently sold for $12.9 million. [NYP] — E.B. Solomont

(To view more of Kushner Companies’ commercial sales transactions, click here)