Kushner Companies has acquired a four-building, 143-unit multi-family portfolio in the Astoria section of Queens for $51 million, the company’s first investment in the neighborhood.
The announcement was made by Jared Kushner, CEO of Kushner Companies.
The portfolio of pre-war walk-up apartment buildings includes 21-80 and 21-81 38th Street, and 23-05 and 23-15 30th Avenue in Astoria, with a mix of one-, two- and three-bedroom apartments. The portfolio also includes 11 stores along the Ditmars Blvd. retail corridor.
The seller, DOUGCAP ASTORIA I LLC, was represented by Michael Guttman of Rosewood Realty Group, in the transaction. Aaron Jungreis of Rosewood Realty Group represented the buyers.
“We have been extremely interested in the Astoria multi-family market for quite some time due to the area’s long-time stability, quality housing stock and convenient proximity to Manhattan,” Kushner said.