Kushner Real Estate Group

Kushner Real Estate Group, also known as the KRE Group is an American real estate development company based in Bridgewater, New Jersey. The company has developed, owns, and manages properties throughout New Jersey, New York, and Pennsylvania, including more than 6,000,000 square feet of commercial industrial, and retail property, and more than 9,000 existing apartments, with an additional 7,000 apartments in various stages of approvals and construction.[1] The company controls more than 6 million square feet of commercial industrial, and retail property, and more than 9,000 apartments.[2][3][4]

This article is about the NJ-based real estate developer. For the NYC-based real estate developer, see Kushner Companies. For other real estate topics, see Kushner (disambiguation).

Kushner Real Estate Group
TypePrivate
IndustryReal estate
Founded1970 (1970)
FoundersMurray Kushner
Eugene Schenkman
Headquarters
Bridgewater, New Jersey
,
United States
ServicesReal estate development
OwnerMurray Kushner
Websitewww.thekregroup.com

History

KRE was founded in 1979 as SK Properties by Eugene Schenkman and Murray Kushner, a relative of Charles Kushner and Jared Kushner.[5]

The company was re-branded in 2010, and changed its name to KRE.[6][7]

In July 2014, the company began construction on the first phase of Journal Squared, a residential development adjacent to the Journal Square Transportation Center. The project was to be constructed in three phases, and was approved for a total of 1,838 units, including a 70-story building, which will be one of the tallest buildings in Jersey City, New Jersey.[8][9][10]

In March 2017, it opened for occupancy,[11] and the company acquired a 228-unit rental community in Springfield, New Jersey, in partnership with Avenue Realty Capital, for $70 million.[12]

In August 2017, the company acquired a 439-unit garden apartment complex in Plainsboro, New Jersey.[13]

Founding and offices

KRE was founded by Eugene Schenkman and Murray Kushner in 1979 as SK Properties, and re-branded as the KRE Group in 2010.[14][15][16] Murray Kushner, and current-president, Jonathan Kushner, are family of Charles Kushner and his son, Jared Kushner, of Kushner Properties.[17]

Projects

KRE has developed projects throughout the Northeast Corridor, with several located in Downtown Jersey City.[18][19][20] In July 2014, the company began construction on the first phase of Journal Squared, a residential development adjacent to the Journal Square Transportation Center. The project will be constructed in three phases and is approved for a total of 1,838 units, including a 70-story building, which will one of the tallest buildings in Jersey City if built.[21][22][23][24]

References
  1. http://newyork.citybizlist.com/article/227847/18-park-hits-85-leased-in-downtown-jersey-city%5B%5D Retrieved March 27, 2015.
  2. "Luxury rental building '18 Park' opens in Jersey City". NJ.com. July 30, 2014. Archived from the original on April 2, 2015.
  3. "Jersey City Development Breaks Ground; 18 Park". The Real Deal. June 28, 2012. Archived from the original on December 31, 2013.
  4. Souccar, Miriam Kreinin (June 1, 2015). "A lesser-known Kushner bets big on Jersey". The Real Deal. Archived from the original on August 4, 2017.
  5. Sherman, Gabriel (July 20, 2009). "The Legacy". New York Magazine. Archived from the original on July 19, 2017.
  6. "SK PROPERTIES CHANGES NAME TO KRE GROUP, KUSHNER REAL ESTATE GROUP, AS PART OF REBRANDING OF 31 YEAR-OLD FIRM". Cahn Communications. July 14, 2010. Archived from the original on September 17, 2017.
  7. Marino, Vivian (November 26, 2013). "Jonathan C. Kushner: The 30 Minute Interview". The New York Times. Archived from the original on December 25, 2013.
  8. "New Development Planned for Journal Square Would Include the City's Tallest Tower, Fundamentally Change the Neighborhood". The Jersey City Independent. August 7, 2012. Archived from the original on February 7, 2014. Retrieved December 30, 2013.
  9. "Three residential towers to change the landscape of Journal Square, officials say". NJ.com. August 15, 2012. Archived from the original on December 17, 2013.
  10. "KRE President Jonathan Kushner to Join All-Star Panel at Third Annual New Jersey Multifamily Summit". NJ.com. November 21, 2013. Archived from the original on January 16, 2014.
  11. McDonald, Terrence T. (March 17, 2017). "Developers celebrate opening of first Journal Square high-rise". NJ.com. Archived from the original on September 17, 2017.
  12. Perlman, Matthew (March 24, 2017). "KRE Group, Partner Score NJ Rental Complex In $70M Deal". Law360. Archived from the original on September 17, 2017.
  13. Rothstein, Ethan (August 2, 2017). "Kushner Real Estate Group Continues Jersey Buying Spree Near Princeton". Bisnow Media. Archived from the original on September 17, 2017.
  14. "Impact Award Kushner Real Estate Group". NAIOP Commercial Real Estate Development Association. Archived from the original on November 27, 2013. Retrieved December 29, 2013.
  15. Marino, Vivian (November 27, 2013). "Jonathan C. Kushner". The New York Times. Archived from the original on April 2, 2015. Retrieved December 29, 2013.
  16. "SK PROPERTIES CHANGES NAME TO KRE GROUP, KUSHNER REAL ESTATE GROUP, AS PART OF REBRANDING OF 31 YEAR-OLD FIRM". Cahn's Communication Real Estate Round up. July 14, 2010. Archived from the original on December 30, 2013. Retrieved December 29, 2013.
  17. "The Legacy". New York Magazine. Archived from the original on December 30, 2013. Retrieved December 29, 2013.
  18. "Luxury rental building '18 Park' opens in Jersey City". Archived from the original on April 2, 2015.
  19. "The New Urban Bedroom Community". HLW. October 3, 2013. Archived from the original on December 31, 2013. Retrieved December 31, 2013.
  20. "Jersey City Development Breaks Ground | 18 Park". Therealdeal.com. June 28, 2012. Archived from the original on December 31, 2013. Retrieved December 31, 2013.
  21. "Featured News ยป New Development Planned for Journal Square Would Include the City's Tallest Tower, Fundamentally Change the Neighborhood". The Jersey City Independent. August 7, 2012. Archived from the original on February 7, 2014. Retrieved December 31, 2013.
  22. "Three residential towers to change the landscape of Journal Square, officials say". NJ.com. August 15, 2012. Archived from the original on December 17, 2013. Retrieved December 31, 2013.
  23. "KRE President Jonathan Kushner to Join All-Star Panel at Third Annual New Jersey Multifamily Summit". Archived from the original on January 16, 2014.
  24. "Archived copy". Archived from the original on April 2, 2015. Retrieved March 27, 2015.CS1 maint: archived copy as title (link) Accessed March 27, 2015
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