Kushners, seeking good news, get some with real estate award

[Guest Nicole]

The Dumbo Heights complex gets some praise

These aren't easy times for the Kushner family. Jared Kushner is having trouble getting security clearance so he can advise his father-in-law in the White House. The family risks losing control of its prize tower at 666 Fifth Ave. unless it can find cash to pay off loans. Their company has even been sued for charging tenants excessive rent for apartments in Brooklyn Heights.

So it was perhaps understandable that the Kushners were pleased to get one small bit of good news: A property of theirs was named “best operating building of the year” by the New York chapter of industry group Building Owners and Managers Association International.

The award was given to the former Watchtower complex acquired from the Jehovah’s Witnesses for $375 million in 2014 by a consortium including RFR Realty, LIVWRK and the Kushners. The place was renamed Dumbo Heights and commercial tenants include WeWork and Etsy.

Nichole Kushner, who triggered a federal investigation when she highlighted her brother’s White House job as part of a pitch to Chinese investors last year for a project in New Jersey, said the family was “very proud” to win the award.

“We were among the first to recognize the potential of recasting this area as a unique community combining tech/retail and high-end living spaces,” she said in a statement.

http://www.crainsnewyork.com/article/20180227/REAL_ESTATE/180229905/kushners-seeking-good-news-get-some-with-real-estate-award