Kushner Cos. pays $39M for Soho retail condo, continuing buying spree

The Kushner Cos. wants to turn the Williamsburg building into condos. Mary Altaffer/AP . Residents of a building in Brooklyn have brought a lawsuit against Jared Kushner’s real estate company.

As part of the makeover, the partners will convert the building to an upscale boutique hotel, with high-end retail in its base. In addition, the ownership team will develop the adjoining lot into a.

An AP investigation found that over the past three years, more than 250 rent-stabilized apartments – 75 percent of the building – were either emptied or sold as the Kushner Cos. was converting.

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More than a dozen current and former residents of the building told The Associated Press that they believe the kushner cos.’ relentless construction, along with rent hikes of $500 a month or more, was part of a campaign to push tenants out of rent-stabilized apartments and bring high-paying condo buyers in.

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Kushner Cos. pays $39M for Soho retail condo, continuing buying spree The Real Deal. Kushner companies paid million for a Soho retail condominium from Ashkenazy Acquisition Corp. and Centurion Realty.

More than a dozen current and former residents of the building told The Associated Press that they believe the Kushner Cos.’ relentless construction, along with rent hikes of $500 a month or more.