NEW YORK CITY-Jared Kushner has bought a $53-million portfolio of seven properties in the West Village, East Village and in SoHo. He will also buy an eighth property to bring the total amount to $58 million.
The properties, which comprise 11 stores and 140 units, include 54 Barrow, 156 Sullivan, 120 McDougal, 435 E. 9th, 267 E. 10th, 311 E. 6th and 311 E. 11th St. The other property, 99 E. 7th St., will be closed next month. Rosewood Realty Group represented the Benchmark, the seller.
"We're very pleased to add these wonderful buildings to our growing and diverse portfolio," Kushner says in an e-mailed statement to GlobeSt.com. "We're very bullish on the multifamily sector and these are truly irreplaceable assets in one of the most supply constrained markets in the world."
Overall, the company has acquired 11,000 units in the past year. Earlier this summer, the company picked up Skyline Apartments and Boulevard Apartments in Bergen County, New Jersey for $57.5 million, totaling 338 units. Following that, Kushner Cos. and Rockpoint Group acquired 10 Maryland apartment complexes in a transaction valued at close to $500 million. The 5,517-unit portfolio is being supported by a $371-million loan from Freddie Mac that was secured by Beech Street Capital.
The activity continues a 2011 trend for Kushner as last year it bought more than 5,300 apartments.
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