Published On: Tue, Jun 10th, 2014

First Unit in Jared Kushner’s Puck Building Sold for $28 Million

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After delays, the new penthouses at the historic Puck Building in Manhattan are finally being sold.

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Jared_Kushner

 

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According to The Real Deal, the sale of the first penthouse in Jared Kushner’s Puck Building closed on May 29th. It sold for $28 million, or more than $4,500 per square foot, according to documents filed with New York City yesterday.

The second largest unit in the ten story building, at nearly 6,000-square feet, was sold to the HNZ Group. The penthouse has three bedrooms and five-and-a-half bathrooms. The penthouses in the building range from 4,895 to 7,000 square feet. All of the penthouses include barrel vault brick ceilings, cast-iron columns and oversized windows. Three of the apartments have outdoor spaces that overlook a garden and two are duplexes.

Tenants will have their own private entrance behind a “Puck-blue door” leading into an elegant lobby with a cast-iron fireplace imported from Europe and a stained-glass caricature of Puck by the elevator.

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First Unit in Jared Kushner’s Puck Building Sold for $28 Million

 

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The smallest of the building’s six penthouses is listed at $21 million. The largest is listed at $60 million.

A number of celebrities, including Leonardo DiCaprio and Jon Bon Jovi reportedly considered buying homes there.

Located at 295 Lafayette Street in the Nolita neighborhood of Manhattan, which borders the SoHo and NoHo neighborhoods, the Puck Building is an historic building which occupies the city block bounded by Lafayette, Houston, Mulberry and Jersey Streets. The 19th Century building was designed by Albert Wagner in the German Rundbogenstil style of Romanesque Revival architecture.

The building has been used by New York University for the Wagner Graduate School of Public Service and its department of sociology, since 2004. It has both office space and ballrooms for large events on both the top and ground floors, the latter of which also holds retail space, which was added when the building underwent a large-scale renovation beginning in October 2011.

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First Unit in Jared Kushner’s Puck Building Sold for $28 Million 295_lafayette_street

 

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After previous renovation plans were rejected by New York’s Landmarks Preservation Commission because they would have affected the historic building’s scale, a scaled down version of Kushner’s original plan for the building was approved in December 2011. While the original proposal would have made the building visible from all directions, much of the new version is practically invisible from the west.

Only the top floor was rebuilt.

The Puck renovations spurred new commercial ventures in the area. The Scandinavian eatery Acme opened nearby at 9 Great Jones Street. Outdoor store REI leased 39,000 square feet of retail space on the Puck Building’s ground floor. Two La Colombe and Gasoline Alley coffee shops have opened on Lafayette, and so did clothing retailers Slave Khaki United, Brooklyn Industries, Supreme, American Apparel and Odin.

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First Unit in Jared Kushner’s Puck Building Sold for $28 Million

 

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Mr. Kushner said of his project, “It’s a gorgeous, magical building, but I wanted it to become the most incredible that it could be, let it realize its full potential. The truth is that a lot of old buildings, if they’re not properly invested in, become tired old buildings. I wanted to take an icon and not just preserve it, but improve it.”

The son of developer Charles Kushner, Jared Corey Kushner is the principal owner of his family’s Kushner Properties, a real estate development and holding company. Jared Kushner also owns The New York Observer and has an estimated $200 million net worth.

He married Ivanka Trump in 2009.

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REI-  First Unit in Jared Kushner’s Puck Building Sold for $28 Million

 

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