Tuesday, January 9, 2024

Reports: Kushner sells 6-building East Village portfolio for $57 million

Kushner Companies reportedly sold a six-building portfolio in the East Village for $57 million. 

According to the @TradedNY account, which first reported on the deal on Dec. 28, the buildings are 118-120 E. Fourth St., 199-203 E. Fourth St., and 315 E. 10th St. 

The buyers: a limited liability company affiliated with David Gleitman's Targo Capital Partners. 

According to The Real Deal, Kushner purchased the properties in 2013 for $51.6 million. 

At one point, Kushner Cos. was the second-largest owner of East Village residential buildings, trailing only perennial landlord of the year candidate Steve Croman

However, as TRD noted, "when Jared Kushner departed for the White House in 2017, the firm started moving to offload some of its New York holdings." 

Previously on EV Grieve

File photo of 118 E. Fourth St.

9 comments:

Anonymous said...

A real bunch of lookers at that TradedNY link

Any RC/RS tenants in these buildings receiving decent buyouts? Asking for a Kushner tenant friend

Exterminator said...

It’s always sad to see slumlord Kushner
make a profit. But the less property he
owns in our neighborhood the better.

DuchessofNYC said...

When people ask why rents are skyhigh when NYC has lost population, maybe this could be why? Soon all of NYC will be "hedged"...

Anonymous said...

What profit? He sold for a loss.

Anonymous said...

What population did the city lose?

Anonymous said...

How is selling at 6.4 million more than the purchase price a loss?

Anonymous said...

Kushner Bought for $51M, just sold for $57M. No loss. He should have divested immediately after entering politics in 2016-7.

Anonymous said...

Croman is perennial SLUMLORD of the year, not landlord of the year.

Grieve said...

@7:49

That was a joke...