NEW YORK CITY-In a sign of its continued growth, Kushner Cos. announced Monday it created the new position of managing director, real estate development, and hired Johanna Greenbaum, a member of Mayor Michael Bloomberg's administration, to fill the role.
In her new role, Greenbaum will work closely with Jared Kushner, CEO of Kushner Companies, on development of projects across New York City, including 200 Lafayette St. and the Puck Building, according to the announcement. She served in the Bloomberg administration for four years as counsel and deputy chief of staff to Robert Steel, deputy mayor for economic development; and assistant counsel to Ed Skyler, deputy mayor for operations.
In her time at City Hall, Greenbaum led several real estate efforts, including the acquisition of the third section of the High Line (she sat on the board of directors of friends of the High Line), neighborhood rezonings, disposition of Metropolitan Transportation Authority/city-owned properties, and the development and entitlement of sites throughout the city. She also helped implement a variety of programs including a comprehensive affordable housing strategy; the development of the “microunit,” a small housing type; and the greater greener buildings plan.
Greenbaum has served in other public departments relating to the city's real estate assets, including the New York City Department of Housing, Preservation and Development and the NYC Economic Development Corp.
But she's no stranger to the private sector. Prior to working for Bloomberg, Greenbaum was an associate at Kramer Levin Naftalis & Frankel LLP, in the land use and development department. She expects to move between the pubic and private sectors throughout her career, she says in an article in City Hall News, which named her to the “Rising Star: Top 40 Under 40” list.
“Ideally I would like to be able to continue to move between the public and private sectors,” she says, “because both are valuable and provide depth and insight into the other.”
Jared Kushner had praise for Greenbaum upon making the hire. “Jo has a remarkable track record overseeing complex projects,” he says in a prepared statement. “She brings a fresh approach and new vision for the next generation of real estate we are building and managing across the city."
Kushner purchased 200 Lafayette in early 2012 and has been conducting a $20-million restoration of the building. It owns the Puck and is working on many other projects throughout the city. The firm has been involved in $7 billion of real estate transactions since 2007 and over the past year has been one of the most active buyers of multi-family apartments in the country, the announcement says.
In a letter on the company's site that reviews 2012, Jared Kushner says, “we acquired over $1 billion of properties in addition to signing some record-breaking leases.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
