Kushner Companies relists Puck Penthouse with 36% price chop

The duplex is now $42.5M, down from the original listing price of $66M

TRD NEW YORK /
Mar.March 20, 2019 03:48 PM

Charlie Kushner and Penthouse 1 at 293 Lafayette Street

It’s one of the biggest price cuts to hit the ultra-luxury market so far this year.

Kushner Companies has relisted Penthouse 1 at 293 Lafayette Street for $42.5 million, according to the Wall Street Journal. That’s a 36 percent drop from the original listing price of $66M in 2015.

It’s the last unit still available in the Puck building, which was bought by Charles Kushner and other investors in 1986, and later developed into six luxury apartments by his son Jared Kushner, who’s now senior advisor to President Trump.

The roughly 7,240-square-foot duplex apartment has five bedrooms and seven-and-a-half bathrooms. If it trades at listing price, it would sell for $5,870 a square foot, a premium for the area.

After failing to find a buyer when it was first listed, the apartment was rented by a hedge-funder for as much as $150,000 a month, according to the Journal. Karen Zabarsky, a spokesperson for Kushner Companies, told the Journal that the current rental tenant has been paying $1.25 million a year.

Adam Modlin of the Modlin Group now has the listing.

Last week, another penthouse at the building found a buyer for $18 million, as The Real Deal reported. It had previously been a $57,000 a month rental. [WSJ] – Decca Muldowney


Related Articles

arrow_forward_ios
TRD Talks Live

Watch tonight: Turning to tech on TRD Talks Live

(Credit: iStock)

Strong quarter for Manhattan home sales belies current struggle

Manhattan resi listings continue nosedive: report

Manhattan resi listings continue nosedive: report

252 East 57th Street and 196 Orchard Street with Samantha Sheeber and Tal Alexander

Closing in the time of Covid-19: “We’re pulling out all the stops”

Kuwait’s consul general in New York, Hamad Al-Hazeem and 50 United Nations Plaza (Credit: Google Maps)

Kuwait’s consul general buys 50 UN Plaza pad for $16M

Web searches for terms including “homes for sale” are way down up north. (Credit: Pixabay)

Fewer Canadians are searching for homes online amid pandemic

Charles Kushner and 331 East 9th Street (Credit: Kusner Photo by Ilir Bajraktari/Patrick McMullan via Getty Images; Google Maps)

Judge grants Kushner tenants free rent at East Village complex

Massive stimulus package has limited upside for real estate

Massive stimulus package has limited upside for real estate

arrow_forward_ios
Loading...