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October 23rd, 2014
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Local New York Kushner Properties Sold 80 West End Avenue

Kushner Properties Sold 80 West End Avenue

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Jared Kushner, head of Kushner Properties.Once tank factory is now going tech. Kushner Properties, owned by Jared Kushner and Gary Barnett’s Extell Development sold 80 West End Ave, to the eccentric real estate owner Frank Ring for $84 million this week, after selling his stakes in the prime property for $330 million, as learned by the Post.

The nearly empty industrial building was purchased from Walter & Samuels directly, which had paid $91.36 million in 2008. The 1912-era, 235,000 square-foot building has six stories each of which have 15-foot floor-to-ceiling heights, as well as a 70 car parking garage. The penthouse is on the 7th-floor, opening onto two roof deck, and the apartment itself has 21-foot high ceilings. A star feature is that three of the four elevators in the building provide access to the 7th floor penthouse.

The property is located between the Thelonious Sphere Monk Circles, which is the West 63rd Street cul-de-sac, and West 64th Street. Extell’s most famous project Riverside Center as well as Lincoln Center are both neat the site.

Originally design as a trucking garage by architect Lansing C. Holden for developer Archibald D. Russell, the property was later used to build Sherman tanks. The upper floors were to be residential condominiums, when in 1986 it was divided into two condominiums. However, due to the economy, the plans fell through.

Only the second floor currently houses the Metropolitan Opera and RCN that are both nearing the end of their leases. Sources said, since the companies went into contract, prospective media tenants, schools and museums have been touring the building.

A recent report by the Post, said that Kushner Properties, led by Jared Kushner, has entered into a $375 million deal, partnered with RFR Holdings and LIVWRK, to purchase six buildings in Dumbo that are currently owned by Jehovah’s Witnesses. An Invesco fund led by Wilbur Ross is looking for $75 million for the deal in equity, the post learned last week.

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Last Updated ( Friday, 18 July 2014 16:32 )  

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