Jared Kushner and his brother Joshua Kushner are expanding their real estate empire with the purchase of New York City’s Hotel on Rivington. The hotel, constructed in 2005 and located on the Lower East Side, will need to be renovated to compete with other hotels in the neighborhood.
The glass building is 20 stories tall, features several party spaces and a penthouse. The current owner of the hotel, which reportedly has received a record number of noise complaints, is Paul Stallings, a former Wall Street lawyer. Representatives for Kushner Companies has confirmed that it is under contract to purchase the hotel.
Sources say that Joshua is stepping up to the plate on this expansion of Kushner Companies as Jared has been busy in Washington as a presidential adviser to his father-in-law.
The Kushner brothers also own 666 Fifth Ave., the Puck Building and a portfolio of walk-up apartments in the East Village.
Thanks for reading InsideHook. Sign up for our daily newsletter and be in the know.
