Kushner Cos. once had grand ambitions in New York. Now, amid political pressure, it is selling property and lowering its profile
Kushner Cos. is considering selling apartment buildings in Manhattan’s East Village, the latest sign the company is shrinking its New York City footprint. Photo: Emil Lendof/The Wall Street Journal By Konrad Putzier and Peter Grant March 19, 2019 7:00 a.m. ET
This month, Kushner Cos. hired a broker to market five apartment buildings with a total of around 100 units in Manhattan’s East Village, according to people familiar with the agreement. An uproar came early in the Trump administration after media reports that Jared’s father, Charles Kushner, was negotiating with China’s Anbang Insurance Co. to step in as a partner on a $7.5 billion plan to redevelop 666 Fifth Ave. Anbang, which has had close political and family ties to top Chinese officials and is now controlled by the government, backed out of those talks after they became publicized.
Exterior of 325 East 10th Street in Manhattan, a Kushner Cos. property. Photo: Emil Lendof/The Wall Street Journal Some Democrats and other critics of the administration say this stepped up attention to Kushner Cos. is likely to persist—even intensify—as the progressive wing of the party exerts more power.
Even with the recent sales and its plan to sell another 100 apartment units in the East Village, Kushner Cos. still owns a sizable portfolio in New York City. That includes apartment buildings in Manhattan and Brooklyn, a downtown office building, a lending business and the lower floors of the former New York Times building.
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