NEW YORK CITY—Kushner Cos. has acquired a 16-building portfolio for $131.5 million from Stone Street Properties and HIG Realty Partners, according to the New York Post. The portfolio includes 291 rental apartments and five retail properties. Fourteen of the buildings are in Manhattan while the two remaining properties are in Brooklyn.
Marcus & Millichap's Joseph Koicim and Peter Von Der Ahe brokered the deal, which is expected to close in 2015.
The sellers bought the package of buildings for $73 million from Robert Koppelman in November 2012. Founded by Jeffrey Kaye and Robert Morgenstern in 2011, Stone Street enlisted HIG as its investment partner and, together, the firms bought several portfolios of multi-family properties.
Led by prolific buyer Jared Kushner, the properties bought by Kushner Cos. in this transaction are 101 MacDougal St., 104 E. 7th St., 438-440 E. 13th St., 236-236 E. 33rd St., 410 E. 64th St., 319 E. 78th St., 233 E. 82nd St., 310 E. 83rd St., 325 E. 83rd St. and 504 E. 88th St. The Brooklyn properties are located at 354-356 State St., the newspaper reports.
Kushner Cos. and Marcus & Millichap representatives did not respond to requests for comment by press time. The sellers of the portfolio could not be reached.
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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.
