Kushner Companies is under contract to buy a land assemblage in Hollywood near the Seminole Hard Rock Hotel & Casino, The Real Deal has learned.
New York-based Kushner, led by Charles Kushner, his daughter Nicole Kushner Meyer and Laurent Morali, is buying the two adjacent plots at 4220 and 4231 North 58th Avenue, according to sources. The sites are just south of Stirling Road and east of U.S. Route 441. They total about 5.7 acres.
Kushner will seek approvals for a roughly 480-unit apartment project, the sources said. The firm is not expected to take advantage of the Live Local Act. The new state law provides developers with height, density and tax incentives if they incorporate income-restricted workforce housing into their projects.
It’s unclear when Kushner is expected to close on the sites and how much it will pay for them. The company declined to comment on the deals.
Property records show 58 Oak LLC, led by Ari Pearl and Reuven Rogatinsky, is selling the smaller parcel at 4231 North 58th Avenue. It last traded for $1.6 million in 2018.
The 4.2-acre Hollywood site on the west side of 58th Avenue is owned by 4220 N 58th Avenue Partners LLC, led by Fort Lauderdale attorney Samuel Rogatinsky. It previously traded for $2.8 million in 2021. It includes a 5,500-square-foot home, records show.
Aaron Jungreis of Rosewood Realty Group marketed the assemblage off-market. Michael Szafranski, who heads acquisitions in Florida for Kushner, is representing the company.
Pearl, who did not immediately respond to a request for comment, has been active in Hollywood and Hallandale Beach. Earlier this month, his company, PPG Development, secured a land use change from the city of Hollywood for The Club at Emerald Hills golf course. PPG now plans to redesign and redevelop the course with 332 condos, pending site plan and rezoning approvals.
His firm also redeveloped the Shell Bay Club at 501 Diplomat Parkway in Hallandale, formerly called the Diplomat Golf & Tennis Club, with an expansion of the golf course and a new 26-story, 250-unit apartment building. He’s also developing Shell Bay Residences with Witkoff.
Kushner’s planned apartment development marks its first in Hollywood. In Fort Lauderdale, Kushner and Aimco plan to develop a site near the Brightline station into nearly 1,000 residential units. They sold a portion of the larger assemblage to condo developer Harvey Hernandez in December for $31.2 million.
At the start of the year, Kushner secured approval for a nearly 90-unit luxury apartment development on the non-waterfront side of Collins Avenue that will include a roughly 1,200-square-foot synagogue — marking Kushner’s first project in Surfside.
The firm also has projects in Miami Gardens, and the Wynwood and Edgewater neighborhoods of Miami.
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