Kushner Real Estate Group

Last updated

Kushner Real Estate Group
Type Private
Industry Real estate
Founded1979;45 years ago (1979)
Founders Murray Kushner
Eugene Schenkman
Headquarters
Bridgewater, New Jersey
,
United States
Services Real estate development
Owner Murray Kushner
Website www.thekregroup.com

Kushner Real Estate Group, also known as the KRE Group is an American real estate development company based in Bridgewater, New Jersey. [ citation needed ]The company has developed, owns, and manages properties throughout New Jersey, New York, and Pennsylvania, including more than 6,000,000 square feet of commercial industrial, and retail property, and more than 9,000 existing apartments, with an additional 7,000 apartments in various stages of approvals and construction. [1] The company controls more than 6 million square feet of commercial industrial, and retail property, and more than 9,000 apartments. [2] [3] [4]

Contents

History

KRE was founded in 1979 as SK Properties by Eugene Schenkman and Murray Kushner, the brother of Charles Kushner and uncle of Jared Kushner. [5]

The company was re-branded in 2010, and changed its name to KRE. [6] [7]

In July 2014, the company began construction on the first phase of Journal Squared, a residential development adjacent to the Journal Square Transportation Center. The project was to be constructed in three phases, and was approved for a total of 1,838 units, including a 70-story building, which will be one of the tallest buildings in Jersey City, New Jersey. [8] [9] [10]

In March 2017, it opened for occupancy, [11] and the company acquired a 228-unit rental community in Springfield, New Jersey, in partnership with Avenue Realty Capital, for $70 million. [12]

In August 2017, the company acquired a 439-unit garden apartment complex in Plainsboro, New Jersey. [13]

Projects

KRE has developed projects throughout the Northeast Corridor, with several located in Downtown Jersey City. [14] [15] [16] In July 2014, the company began construction on the first phase of Journal Squared, a residential development adjacent to the Journal Square Transportation Center. The project will be constructed in three phases and is approved for a total of 1,838 units, including a 70-story building, which will one of the tallest buildings in Jersey City if built. [17] [18] [19] [20]

See also

Related Research Articles

Emaar Properties is an Emirati multinational real estate development company located in the United Arab Emirates. It is a public joint-stock company, listed on the Dubai Financial Market, and has a valuation of US$16.8 billion as of August 2023 against the Net Asset Valuation of US$37.6 billion as of December 2022 based on the valuation of assets done by third party valuer. With six business segments and 60 active companies, Emaar has collective presence in 36 markets across the Middle East, North Africa, Asia, Europe and North America.

<span class="mw-page-title-main">Journal Square</span> Journal Square in Jersey City, New Jersey

Journal Square is a business district, residential area, and transportation hub in Jersey City, New Jersey, which takes its name from the newspaper Jersey Journal whose headquarters were located there from 1911 to 2013. The "square" itself is at the intersection of Kennedy Boulevard and Bergen Avenue. The broader area extends to and includes Bergen Square, McGinley Square, India Square, the Five Corners and parts of the Marion Section. Many local, state, and federal agencies serving Hudson County maintain offices in the district.

<span class="mw-page-title-main">Downtown Jersey City</span> Populated place in Hudson County, New Jersey, US

Downtown is an area of Jersey City, New Jersey, which includes the Historic Downtown and the Waterfront.

Kushner Companies LLC is an American real estate developer in the New York City metropolitan area. The company's biggest presence is in the New Jersey residential market.

<span class="mw-page-title-main">The Related Companies</span> American real estate firm and developer

The Related Companies, L.P. is an American real estate firm in New York City, with main offices in West Palm Beach, Chicago, Los Angeles, San Francisco, Abu Dhabi, and London. Related has more than 4,000 employees and is the largest landlord in New York City with over 40,000 residential rental units in its national portfolio.

<span class="mw-page-title-main">Trump Plaza (Jersey City)</span> Residential building in Jersey City, New Jersey

Trump Plaza also known as Trump Plaza Residences, is the first of two apartment complex buildings to be built in Jersey City, New Jersey. Trump Plaza Residences is 532 ft tall (162 m) and has 55 floors, and is the 7th tallest residential building in New Jersey. In 2020, the Trump name was removed from the properties and has been renamed the 88 Morgan Street Condominiums.

1 Journal Square is a skyscraper complex at Journal Square in Jersey City, New Jersey proposed by the Kushner Companies. The initial version consisted of two towers with roughly 3,000 residential units and 160,000 square feet of commercial space, but the project has been scaled back as of 2020.

<span class="mw-page-title-main">One Theater Square</span> Mixed-use building in Newark, New Jersey

One Theater Square is a mixed-use building in Newark, New Jersey. It is located across from Military Park and the New Jersey Performing Arts Center, which inspired its name. Completed in 2018, it includes the first newly-constructed high rise apartment building to be built in the city in more than fifty years. It was designed by BLT Architects.

<span class="mw-page-title-main">Four Corners (Newark)</span> Historic district in Essex County, New Jersey, US

The Four Corners Historic District is the intersection of Broad and Market Streets in Newark, New Jersey. It is the site of the city's earliest settlement and the heart of Downtown Newark that at one time was considered the busiest intersection in the United States. The area that radiates twenty-two square blocks from the crossroads is a state and federal historic district.

<span class="mw-page-title-main">50 Rector Park</span> Luxury high rise apartments in Newark, New Jersey

50 Rector Park is an apartment building in Newark, New Jersey, the first market rate residential high-rise to be newly built in the city since 1962. Originally called One Riverview and later 1 Rector Street, there was a groundbreaking in 2013, but construction did not begin at the site until the spring of 2017. It was topped out in April 2018 and opened June 2019.

<span class="mw-page-title-main">Veris Residential</span> American real estate investment trust

Veris Residential, Inc. is a real estate investment trust headquartered in Jersey City, New Jersey, that invests primarily in residential real estate in New Jersey.

Marc Charles Kushner is an American architect, entrepreneur and author. He was a partner at the New York City based architecture firm Hollwich Kushner and co-founded Architizer.

<span class="mw-page-title-main">Crescent Heights (company)</span> American real estate company

Crescent Heights, Inc, is an American real estate development company based in Miami, Florida, with offices in Chicago, New York, Los Angeles and San Francisco.

<span class="mw-page-title-main">Journal Squared</span> Residential highrises in Jersey City, New Jersey

Journal Squared, or J2, is a three-tower retail and residential complex under construction at Journal Square in Jersey City, New Jersey. Upon completion, the complex will consist of buildings of 54, 60, and 70 stories, among the tallest buildings in the state.

Murray Kushner is an American real estate developer.

CIM Group invests in commercial property on behalf of large institutions such as pensions. As of December 31, 2020, the company owned $29.2 billion worth of commercial property.

The Kushner family is an American family involved in real estate development. The family originated from Novogrudok, Poland, and is based in the New York metropolitan area. After surviving the Holocaust and settling in the United States, Joseph Kushner developed a portfolio of 4,000 apartments. He left the business to his sons, Murray and Charles Kushner, who worked together before having a falling out over business and personal matters. Charles, a convicted felon, owns Kushner Companies and Murray owns the Kushner Real Estate Group. The net worth of Charles' family has been estimated at over $1 billion. Jared Kushner, Charles' son, was senior advisor to President Donald Trump.

References

  1. ↑ http://newyork.citybizlist.com/article/227847/18-park-hits-85-leased-in-downtown-jersey-city%5B%5D Retrieved March 27, 2015.
  2. ↑ "Luxury rental building '18 Park' opens in Jersey City". NJ.com. July 30, 2014. Archived from the original on April 2, 2015.
  3. ↑ "Jersey City Development Breaks Ground; 18 Park". The Real Deal. June 28, 2012. Archived from the original on December 31, 2013.
  4. ↑ Souccar, Miriam Kreinin (June 1, 2015). "A lesser-known Kushner bets big on Jersey". The Real Deal. Archived from the original on August 4, 2017.
  5. ↑ Sherman, Gabriel (July 20, 2009). "The Legacy". New York . Archived from the original on July 19, 2017.
  6. ↑ "SK PROPERTIES CHANGES NAME TO KRE GROUP, KUSHNER REAL ESTATE GROUP, AS PART OF REBRANDING OF 31 YEAR-OLD FIRM". Cahn Communications. July 14, 2010. Archived from the original on September 17, 2017.
  7. ↑ Marino, Vivian (November 26, 2013). "Jonathan C. Kushner: The 30 Minute Interview". The New York Times . Archived from the original on December 25, 2013.
  8. ↑ "New Development Planned for Journal Square Would Include the City's Tallest Tower, Fundamentally Change the Neighborhood". The Jersey City Independent. August 7, 2012. Archived from the original on February 7, 2014. Retrieved December 30, 2013.
  9. ↑ "Three residential towers to change the landscape of Journal Square, officials say". NJ.com. August 15, 2012. Archived from the original on December 17, 2013.
  10. ↑ "KRE President Jonathan Kushner to Join All-Star Panel at Third Annual New Jersey Multifamily Summit". NJ.com. November 21, 2013. Archived from the original on January 16, 2014.
  11. ↑ McDonald, Terrence T. (March 17, 2017). "Developers celebrate opening of first Journal Square high-rise". NJ.com. Archived from the original on September 17, 2017.
  12. ↑ Perlman, Matthew (March 24, 2017). "KRE Group, Partner Score NJ Rental Complex In $70M Deal". Law360. Archived from the original on September 17, 2017.
  13. ↑ Rothstein, Ethan (August 2, 2017). "Kushner Real Estate Group Continues Jersey Buying Spree Near Princeton". Bisnow Media. Archived from the original on September 17, 2017.
  14. ↑ "Luxury rental building '18 Park' opens in Jersey City". July 30, 2014. Archived from the original on April 2, 2015.
  15. ↑ "The New Urban Bedroom Community". HLW. October 3, 2013. Archived from the original on December 31, 2013. Retrieved December 31, 2013.
  16. ↑ "Jersey City Development Breaks Ground | 18 Park". Therealdeal.com. June 28, 2012. Archived from the original on December 31, 2013. Retrieved December 31, 2013.
  17. ↑ "Featured News » New Development Planned for Journal Square Would Include the City's Tallest Tower, Fundamentally Change the Neighborhood". The Jersey City Independent. August 7, 2012. Archived from the original on February 7, 2014. Retrieved December 31, 2013.
  18. ↑ "Three residential towers to change the landscape of Journal Square, officials say". NJ.com. August 15, 2012. Archived from the original on December 17, 2013. Retrieved December 31, 2013.
  19. ↑ "KRE President Jonathan Kushner to Join All-Star Panel at Third Annual New Jersey Multifamily Summit". November 22, 2013. Archived from the original on January 16, 2014.
  20. ↑ "Groundbreaking Ceremony Held for Jersey City Development | Multi-Housing News Online". Archived from the original on April 2, 2015. Retrieved March 27, 2015. Accessed March 27, 2015
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.