The Real Deal New York

Posts Tagged ‘kushner companies’

  • President, with an asterisk

    January 20, 2017 11:30AM By Konrad Putzier

    From left: Laurent Morali, Charlie and Jared Kushner

    “Am I the leader of the company?”

    Laurent Morali, the new president of Kushner Companies, repeated the question, then answered without a moment’s hesitation. “I am.”

    To many New York real estate insiders, that statement may not carry much weight. Kushner Cos. is a family firm with a storied legacy. It was started in 1985 by Joseph Kushner, a refugee from Poland who became one of New Jersey’s famed “Holocaust builders,” and his son Charlie. Charismatic and hypercompetitive, Charlie ran the firm until 2005, when he went to prison for tax fraud and witness tampering. His son, Jared, has been the CEO and public face of the firm for over a decade, and was expected to continue leading it for decades more. Then, Donald Trump launched his presidential bid. To the surprise of many, Jared joined the campaign as an adviser. To the surprise of many more, Trump won, and Jared declared he’d be leaving the firm to take a job in the White House. So here we are.

    Morali is now the official head of the company. But he’s not a Kushner. What does that really make him? [more]

  • Jared Kushner, Joshua Kushner and 666 Fifth Avenue

    Jared Kushner, who is set to join Donald Trump’s administration as a senior adviser, will step down from all business and board positions he currently holds and sell off dozens of his personal assets. [more]

  • Jared Kushner, 666 Fifth Avenue and Wu Xiaohui of Anbang

    Jared Kushner, 666 Fifth Avenue and Wu Xiaohui of Anbang

    UPDATED, 4:02 p.m., Jan. 8: Jared Kushner is poised to step down as CEO of Kushner Companies, his attorney told the New York Times. The move comes as Kushner, who heads one of New York’s most active real estate investment and development firms, continues to play a central role in the transition team of his father-in-law, President-elect Donald Trump, and is expected to be one of the most influential advisers in his administration. [more]

  • From left: 85 Jay Street (credit: Google Maps), Criterion’s Chuck Rosenzweig (credit: Cornell) and Jared Kushner

    Kushner Companies, CIM Group and LIVWRK secured a $187 million acquisition loan from Criterion Real Estate Capital to fund their $345 million acquisition of the Dumbo development site 85 Jay Street. [more]

  • Parking lot at 85 Jay Street, CIM’s Shaul Kuba (Credit: Getty Images) and Jared Kushner

    CIM Group, Kushner and LIVWRK this week closed on the second part of their 2016 Watchtower acquisition, buying a development site at 85 Jay Street in Dumbo for $345 million from the Jehovah’s Witnesses. [more]

  • From left: Charles, Josh (credit: Getty) and Jared Kushner

    Jared Kushner and his family are worth an estimated $1.8 billion, roughly half of which comes from their real estate holdings. [more]

  • Thanksgiving turkey and Jared Kushner

    Thanksgiving turkey and Jared Kushner

    An East Village woman is suing Jared Kushner for, among other things, allegedly spoiling her Thanksgiving. [more]

  • Laurent Morali and Jared Kushner (credit: Kushner Companies)

    Laurent Morali and Jared Kushner (credit: Kushner Companies)

    Jared Kushner’s Kushner Companies plans to lend $200 million annually to developers over the next five years, according to its president Laurent Morali.

    “We like the opportunity to deploy our capital in a different place in the capital stack,” Morali said, according to the New York Post. [more]

  • The White House and Jared Kushner

    The White House and Jared Kushner

    The president-elect apparently isn’t subject to conflict of interest laws, but his son-in-law could be. [more]

  • From left: Jared Kushner, Toby Moskovits and 232 Seigel Street

    From left: Jared Kushner, Toby Moskovits and 215 Moore Street in Bushwick

    As traditional banks tighten the purse strings, Jared Kushner is seeing through a commitment to establish his firm as a peer-to-peer lender. A debt fund under the Kushner Companies umbrella provided a $33 million loan to Toby Moskovits’ Heritage Equity Partners for a new mixed-use office-and-retail project at 215 Moore Street, according to records filed with the city Monday. [more]

  • 101 MacDougal Street (credit: Melt Kraft) and Jared Kushner

    101 MacDougal Street (credit: Meltkraft) and Jared Kushner

    While Jared Kushner’s father-in-law has pledged to “drain the swamp,” one of the young real estate mogul’s tenants claims his Greenwich Village building is a real quagmire.

    Eran Wasjwol, who ran a grilled cheese Meltkraft franchise at Kushner’s 101 MacDougal Street until this past summer, filed a lawsuit against the landlord claiming the building had a shady electrical hookup and a faulty sewage system that backed up under the restaurant’s floorboards, the New York Post reported. [more]

  • Jared Kushner

    Jared Kushner

    Jared Kushner is close to being selected for a top advisor position in Donald Trump’s White House, potentially as a senior adviser or special counsel. He could even be tapped for an informal but influential role. [more]

  • Jared Kushner and Chris Christie

    Jared Kushner and Chris Christie

    New Jersey Gov. Chris Christie has had quite the week. First he was removed as the head of President-elect Donald Trump’s White House transition team. Now, his allies are being booted too. At the helm of that effort? None other than real estate developer Jared Kushner, Trump’s son-in-law and close consigliere. [more]

  • Jared Kushner at the White House

    Jared Kushner and the White House (Illustration by Paul Kisselev)

    While President-elect Donald Trump met with President Barack Obama in the Oval Office Thursday, Jared Kushner strolled the White House’s South Lawn with Obama’s chief of staff Denis McDonough.

    The sight of the two men deep in discussion sent tabloids into overdrive: Might Trump tap Kushner to be his chief of staff? Fueling that thesis was the fact Kushner was brought along to the meet-and-greet with the first family, while Trump’s own sons, Eric and Donald Jr., were not.

    The 35-year-old CEO of Kushner Companies and publisher of the New York Observer (as of today, simply had long been identified as a key player in Trump’s campaign. He was credited with helping to broker conversations between Trump and former Fox News chief Roger Ailes, mounting a social media offensive and data engine that allowed the campaign to target people who supported Trump on Facebook, and courting Silicon Valley entrepreneurs to help him scale the campaign’s marketing efforts. [more]

  • 229 West 43rd Street and Jared Kushner

    229 West 43rd Street and Jared Kushner

    Jared Kushner’s Kushner Companies landed a $370 million loan from Deutsche Bank and SL Green Realty to refinance its 250,000-square foot retail condominium on West 43rd Street.

    The financing includes a $285 million senior note from Deutche Bank and a $85 million mezzanine loan from SL Green, the Commercial Observer reported. JLL’s Keith Kurland and Aaron Appel brokered the debt deals, which are 10-year terms, according to the CO. The new debt replaces a $295 million acquisition loan that Brookfield Property Partners provided Kushner last year. [more]

  • week in renderings

    A $1.5 billion construction loan, a $6 million sale of a vacant lot in the East Village and a partnership that only lasted eight days — in real estate, it’s all about the numbers.

    To see the most important stats and figures from this past week, watch the video here.

  • Daniel Bodner and Eric Thomas

    Daniel Bodner and Eric Thomas

    From the September issue: In 2014, the leasing activity of TAMI (technology, advertising, media and information) tenants surpassed for the first time Manhattan’s traditionally dominant category — that of finance, insurance and real estate firms — 31.4 percent to 28.8 percent. For this month’s Q&A feature, we spoke to experts about the next wave of tech districts and the relationships between landlords and TAMI tenants. Our second web installment features interviews with Daniel Bodner of Kushner Companies and Eric Thomas of Cresa New York. Click here to read more.

  • From top left going clockwise, Aby Rosen, Donald Trump, Marc Holiday, Josh Kushner, Charles Kusner, Jared Kushner, Ivanka Trump and Horward Lorber (Illustration by Paul Kisselev)

    From top left going clockwise, Aby Rosen, Donald Trump, Marc Holiday, Josh Kushner, Charles Kusner, Jared Kushner, Ivanka Trump and Horward Lorber (Illustration by Paul Kisselev)

    From the September issue: Last June, Mary Ann Tighe, one of the city’s top commercial real estate brokers, had an awkward exchange with New York real estate heir and publisher Jared Kushner.

    Tighe — a Democrat who’s supported Hillary Clinton and Al Gore in past elections — happened to be in Kushner’s office on business the day his father-in-law, Donald Trump, announced his bid for the White House.

    In one of his most controversial speeches to date, the Republican presidential candidate had railed against Mexican immigrants, saying that many of them were criminals and even rapists. In the wake of the speech, celebrity chef José Andrés said he would not open a Spanish restaurant at the Trump International Hotel in Washington, D.C., a project headed by Kushner’s wife, Ivanka Trump.

    Despite the way the campaign announcement unfolded, Kushner still seemed pumped, offering Tighe a signature Trump “Make America Great Again” cap, she recalled in an interview with The Real Deal. [more]

  • Rendering of One Journal Square (click to enlarge)

    Kushner Companies and KABR Group released new details and renderings for what will be one of New Jersey’s tallest and most expensive towers.

    The developers’ $400 million One Journal Square project in Jersey City consists of two residential towers, one slated to rise 79 stories and the other topping out at 56 stories, New York YIMBY reported. Previous plans had both towers rising about 50 stories.

    The 79-story structure would be the tallest of any already complete buildings in the Garden State (the proposed 99 Hudson Street, unbuilt, is expected to eventually rise 990 feet, eight feet taller than One Journal Square). [more]

  • The Watchtower Building at 25-30 Columbia Heights

    The Watchtower Building at 25-30 Columbia Heights in Dumbo (inset from top: Asher Abehsera and Jared Kushner)

    A partnership led by Kushner Companies, CIM Group and LIVWRK has finalized a deal for the famed Jehovah’s Witnesses’ Watchtower building in Brooklyn, The Real Deal has learned. The deal, valued at $340 million, is one of the largest ever closed in the borough.

    A spokesperson for the developers could not immediately be reached. [more]