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Kushners buying Manhattan hotel in third such deal this year

NEW YORK — The family real estate company once run by Jared Kushner is buying a hotel on the Lower East Side of Manhattan, the third hotel it has purchased this year.

The Kushner Cos. said Tuesday that it is in contract to buy the 20-story Hotel on Rivington for an undisclosed amount. The company known for residential and office buildings bought two hotels in Long Branch, New Jersey, earlier this year.

The company bought more than two-dozen apartment buildings in lower Manhattan when Jared Kushner was CEO. He stepped down from that position last year to become an adviser to his father-in-law, President Donald Trump.

The Hotel on Rivington has a cocktail lounge and a three-story penthouse. A room with a king-size bed goes for more than $300 a night.

The Associated Press

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