Kushner Companies to Buy NYC’s Hotel on Rivington

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.