NEW YORK—Jared and Joshua Kushner are expanding Kushner Companies by buying Hotel on Rivington on the Lower East Side in Manhattan, according to a spokeswoman for Kushner Companies, who confirmed it is under contract to buy the hotel.
The 20-story glass high-rise is complete with event space, including a rooftop penthouse. The hospitality industry is a new field for Kushner Companies.
In addition to the purchase of 666 Fifth Ave., the Kushners own the Puck Building and a portfolio of walk-up apartment buildings in the East Village, and also recently bought two properties on the Jersey Shore.
The Hotel on Rivington, which opened in 2005, is currently owned by a former Wall Street lawyer, Paul Stallings.
