Wednesday, 18 May 2016

Donald Trump's Son-In-Law Is Helping to Fund Brooklyn's First Supertall Tower

Kushner Companies is becoming increasingly involved in Brooklyn development

Developer Jared Kushner, also known as the son-in-law of one Donald Trump, has been revealed as a lender to JDS Development and Chetrit Group's forthcoming Brooklyn supertall tower. The Real Deal reports that Kushner Companies issued a mezzanine loan for 340 Flatbush Avenue, the borough's first supertall which will rise 1,066 feet from the shell of the Dime Savings Bank and hold over 400 condos. The size of the loan isn't clear, but it might be really, really big. Just huge.

The loan is far from Kushner Companies first foray into the Brooklyn market. Kushner's also partnering with Aby Rosen's RFR Realty on Dumbo Heights, a nearly 1 million-square-foot tech hub the firms are developing in the namesake neighborhood. A few weeks ago, word broke that the development duo also struck a handshake deal to the tune of $700 million with the Jehovah's Witnesses for the institution's hallmark Watchtower compound.


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