Kushner Companies is lowering its expectations – and its price – on a ultra-luxury townhouse in Brooklyn Heights that it’s hoping to flip a seven-figure profit.
The property, a 20-foot-wide brownstone with 7,000 square feet of living space, had been on the market for $11.25 million until a recent change in brokers – with the new folks lowering the cost to a mere $9.5 million. If the sale had gone through at the original price, it would have been the most expensive sale of an individual residential property in Brooklyn ever.
Kushner Companies has been going through a period of difficulty – facing scrutiny as its former head Jared Kushner serves as a White House senior adviser. It’s hit a wall in finding a suitable partner to redevelop its Fifth Avenue Manhattan headquarters – and been confronted with a barrage of criticism over how its uses the country’s visa programs to attract investors.
Kushner himself has formally stepped away from his role at the company, which was started by his father Charles Kushner.
Daniel J. Solomon is the former Assistant to the Editor/News Writer at the Forward. Originally from Queens, he attended Harvard as an undergraduate, where he wrote his senior thesis on French-Jewish intellectual history. He is excited to have returned to New York after his time in Massachusetts. Daniel’s passions include folk music, cycling, and pointed argument.
Kushner Co. Is Trying To Unload Brooklyn Real Estate