Kushner Companies Introduces Itself to the Community; Tensions Ensue

Posted on: April 18th, 2013 at 6:10 am by

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In one fell swoop, Kushner Companies became a major player in the East Village real estate game. Jared Kushner, owner of the Observer, purchased a portfolio of 17 buildings earlier this year, a move that no doubt affects the lives of hundreds in the neighborhood. Many are already taking the company to housing court. Anyway, last night was the first official introduction to the community.

It didn’t go over too well. Not with residents. Not with the Land Use subcommittee of Community Board 3. The Chief Operating Officer and Managing Director of real estate development represented the company, extending an olive branch, as it were, and pitching their intentions. Namely to create a “responsive, welcoming, and secure community” and to operate the buildings with “the same high standard.” Board members went on to grill the guests about policy toward possible future vertical enlargements and the relationship with rent regulated tenants. The response for both was pretty much that they intend to “follow the law” and that property additions would be considered from “time to time.”

[Photo: EV Grieve]

[Photo: EV Grieve]

The climax arrived when one East Village resident asked how anyone could trust Kushner after building an office without permits or variance for after-hours work.

For more extensive coverage on the Jared Kushner acquisitions and fallout, head over to EV Grieve.

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