Latest news with #KushnerCompanies
Yahoo
26-06-2025
- Business
- Yahoo
INCOCO CAPITAL SECURES $525M CONSTRUCTION LOAN ON 55-STORY CONDOMINIUM DEVELOPMENT PROJECT IN LIC'S COURT SQUARE
LONG ISLAND CITY, N.Y., June 26, 2025 /PRNewswire/ -- Incoco Capital, along with developers Tavros and Charney Companies announce that Madison Realty Capital, Kushner Companies, and OneIM have provided significant construction loan financing for its development of 24-19 Jackson Avenue and 45-03 23rd Street in Court Square, a 55-story skyscraper which will soon begin rising in Long Island City. Financed with $425 million in backing from Madison Realty Capital, a vertically integrated real estate private equity firm, along with $100 million from Kushner, a multi-generational real estate development and management firm, and OneIM, a global alternative investment manager and Kushner's capital partner, the condominium will bring 636 new units to the already vibrant Long Island City neighborhood. "We have successfully carried out numerous projects in New York in partnership with proven developers and global institutional investors, including Korea" stated Fa Park, Chairman and Founder of Incoco Capital. "We are also exploring EB-5 investment opportunities, given the project's potential for job creation and broad economic impact." The project site was completed in 2022 when Incoco Capital acquired additional land from Japanese hotel chain Toyoko Inn for approximately $68.5 million, doubling the size of the original site, which had been assembled by Tavros and Charney since 2016. The architectural design is being led by FX Collaborative, and the residential offerings will include a diverse mix of units, ranging from studios to one- to four-bedroom residences. In addition to offering a premier amenities package, Chelsea Piers Fitness will occupy the building's podium for 30 years, and Whole Foods will do so for 15 years. Construction will begin in June 2025 and conclude in the spring of 2028. "We're very excited to commence construction on our Court Square building, which is set in a spectacular location with wide ranging views of Manhattan, Brooklyn, Queens, the East River and its bridges," said Nicholas Silvers, Founding Partner of Tavros. "This is an extremely exciting time for us, and we're grateful to both Madison Realty Capital and to Kushner for sharing in this exhilarating project." "The opportunity to create new condos in one of the most electric neighborhoods in Queens has been a journey of perseverance, challenging work and vision, all supported by a world-class team of professionals, colleagues and of course, our financial partners," said Sam Charney, Principal, Charney Companies. "Our dream is now becoming a reality, with construction beginning immediately." "We are pleased to provide financing to Tavros and Charney, repeat borrowers with significant experience delivering luxury projects across Manhattan, Brooklyn, and Queens, for a development that will bring affordable housing units in addition to a premier grocer and fitness experience to the already vibrant and diverse Long Island City community," said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. "This transaction reflects Madison Realty Capital's commitment to supporting best-in-class developments and providing innovative financing solutions to advance transformative projects throughout New York City." "The building is located at the nexus of Manhattan, Queens, and Brooklyn, and the neighborhood is primed for a stunning new property," said Matt Burrows, Managing Director, Kushner. "Tavros and Charney have a stellar record with projects such as The Dime in Williamsburg, The Jackson in LIC, and the five Gowanus Wharf residences currently in development. With the backgrounds and the reputations that the two developers share, we are confident that Court Square will be another well received and successful addition to the continuously evolving neighborhood." A hub for public transportation, Court Square is conveniently located near the 7, G, E, M, N, and R trains. Buses abound, with routes through Brooklyn, Queens and Manhattan. The Long Island Railroad is steps away, as are great restaurants for all wallet sizes, MoMA PS1 and other museums, parks and shopping. About Incoco Capital:INCOCO, the inventor and manufacturer of the world's first dry nail polish strips, has been employing innovative and proprietary technologies to transform the cosmetics market since the company's launch in 2005. INCOCO's Color Street brand launched in 2017, has grown into one of the most prolific direct selling companies in the Unites States, and was ranked 24th amongst direct selling companies globally in 2020. Now with a worldwide distribution channel and full cosmetic lineup, INCOCO aims to become a premiere and global cosmetic group. Incoco Capital, a privately-owned real estate investment management and development firm. Currently, the firm is leading five large-scale development projects across New York City. About Tavros:Tavros is a privately-owned real estate investment management and development firm. They invest on a discretionary basis, with a strong focus on New York City, and a global investor base of family offices, trusts, high net worth individuals, and institutions. Core to the Tavros discipline is the quality of its partnerships with tenants, investors, and lenders. As an owner and property manager, Tavros aims to ensure a positive experience for its tenants through attention to detail and a focus on quality of life. About Charney Companies:Founded in 2013, Charney Companies is a fully integrated real estate development, construction, brokerage, and management firm with a focus on developing, owning, and operating first-class residential and commercial real estate in the New York City Metro area. From ground-up construction to adaptive reuse and value-add repositioning, Charney plays an integral role in all aspects of the development process and leverages the expertise and experience of their principals to deliver superior products to the marketplace and best-in-class returns for their investors. Charney owns, operates, and is under construction on two million square feet throughout Brooklyn and Queens, and has won awards and accommodations from municipal organizations and media outlets for their work over the last 5 years. For more information, visit: About Madison Realty Capital:Madison Realty Capital is a vertically integrated private equity firm focused on US-based commercial real estate private credit strategies. As of March 31, 2025, the firm, including its controlled affiliates (collectively, "Madison"), manages $23 billion in assets on behalf of a global institutional investor base. Since 2004, Madison has completed $66 billion of securities and non-securities real estate transactions largely through direct lending to a wide range of borrowers, acquiring non-performing loans and making preferred equity investments. Madison Realty Capital seeks to deliver value across every phase of the property lifecycle by providing customized financing solutions and strong underwriting capabilities that meet borrowers' unique needs with speed and certainty of execution. To learn more, follow Madison Realty Capital on LinkedIn and visit About Kushner:Kushner is a multi-generational real estate development and management firm headquartered in New York City. The company's diverse portfolio encompasses residential, commercial, retail, hospitality, and industrial properties, with over 10,000 units currently under development and over 25,000 apartments under ownership across fourteen states. Kushner's integrated team touches upon every step of the development and management process for its properties, creating an unparalleled and seamless experience for their tenants, team members, and partners. About OneIM:OneIM is a global alternative investment manager that invests across the capital structure, in a range of asset classes, industries and geographies. The firm applies a flexible investment approach and focuses on creating long-term value working with exceptional partners and management teams. OneIM is sector agnostic and focuses on situations where it can leverage its cross-asset class expertise and capital base to achieve differentiated risk-adjusted returns. The firm was founded in 2022 and currently manages approximately $7 billion in assets. The team operates from offices in Abu Dhabi, London, Tokyo and New York. CONTACTS: Brian Lee Doyeon HwangIncoco Capital, LLC Incoco Capital, LLC(212) 847-7442 (212) 847-7442brian.l@ doyeon.h@ View original content to download multimedia: SOURCE INCOCO CAPITAL, LLC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-06-2025
- Business
- Yahoo
Walker & Dunlop Arranges $90 Million Refinance for 2000 Biscayne in Miami
BETHESDA, Md., June 25, 2025--(BUSINESS WIRE)--Walker & Dunlop, Inc. announced today that it arranged an $87.3 million refinance for 2000 Biscayne, a newly built, Class-A multifamily building totaling 420 units in Miami, Florida. Walker & Dunlop New York Capital Markets, led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Stepniewski, Dustin Stolly, Jordan Casella, Christopher de Raet, and Stanley Cayre, were exclusive advisors to the joint venture team that includes Kushner Companies and PTM Partners. Corebridge Financial provided the capital for the debt refinancing. The 36-story residential tower features 420 premium apartments across 353,329 rentable square feet. The unit mix includes 75 studios, 204 one-bedrooms, 129 two-bedrooms and 12 three-bedrooms. Residents enjoy a wide range of indoor and outdoor amenities, including co-working spaces, community dining areas, a fitness center with locker rooms, a spa, game room, children's play area, pet spa, dog park and more. "2000 Biscayne represents the highest standard for modern living in one of Miami's most dynamic neighborhoods, combining exceptional design, premium finishes and unmatched amenities," said Laurent Morali, chief executive officer at Kushner. "This successful financing is a clear testament to the strength and quality of the asset, and we're grateful to our friends at Corebridge for their trust and confidence. Thank you to Walker & Dunlop for their unwavering support and expertise through another great execution." Located on Biscayne Boulevard in Miami's urban core, the property offers excellent access to major roadways, transit, and a vibrant array of dining, entertainment and cultural destinations. The Miami metro area is the most populous in Florida, with more than 6.1 million residents, including 2.75 million in the Miami Beach–Kendall division. "This strategic refinancing is a testament to the success of this standout luxury multifamily project," said Michael Tillman, chief executive officer at PTM Partners. "The 2000 Biscayne development team's meticulous attention to detail and design has realized itself in a brisk 75% lease-up in a very short period. Not only does this demonstrate the demand for high quality assets but also shows the continued strength of the Miami rental market, particularly within Edgewater." "2000 Biscayne delivers unmatched quality, convenience and lifestyle offerings, firmly establishing it as the leading multifamily property in the Miami market," said Michael Stepniewski, senior director of New York Capital Markets at Walker & Dunlop. "Miami continues to see strong demand for high-quality housing, driven by a rapidly growing population and sustained economic expansion. We're proud to have been part of this exceptional project and look forward to its continued success." In 2024, Walker & Dunlop's Capital Markets team sourced over $16 billion from non-Agency capital providers. This vast experience has made them a top advisor on all asset classes for many of the industry's top developers, owners, and operators. To learn more about Walker & Dunlop's broad financing options, visit our website. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry. View source version on Contacts Investors:Kelsey DuffeyInvestor RelationsPhone 301.202.3207investorrelations@ Media:Nina H. von WaldeggVP, Public RelationsPhone 301.564.3291nhvwaldegg@ Phone 301.215.5500 7272 Wisconsin Avenue, Suite 1300Bethesda, Maryland 20814 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
LeMonde
21-05-2025
- Business
- LeMonde
US Senate confirms Trump in-law Charles Kushner as ambassador to France
The United States Senate on Monday, May 19, confirmed real estate developer Charles Kushner, the father of President Donald Trump's son-in-law Jared Kushner, to serve as ambassador to France. Kushner, who was confirmed 51-45, is the founder of Kushner Companies, a real estate firm. His son Jared is a former White House senior adviser to Trump who is married to Trump's eldest daughter, Ivanka. When he announced his intention to nominate Kushner in November, Trump called him"a tremendous business leader, philanthropist, & dealmaker." Kushner was pardoned by Trump in December 2020, after pleading guilty years earlier to tax evasion and making illegal campaign donations. Prosecutors alleged that he had hatched a scheme for revenge and intimidation, after discovering that his brother-in-law was cooperating with federal authorities in an investigation, hiring a prostitute and arranging to have the encounter recorded with a hidden camera and sent to his own sister, the man's wife. 'Our European allies are anxious' Kushner will head to France as the relationship between the two traditional allies, and between the US and the rest of Europe, has been strained over Trump's trade policies and the US role in the Ukraine war. At his confirmation hearing earlier this month, Kushner said he would work closely with France to "bring greater balance to our important economic relationship" and also encourage France to "invest more in its defense capabilities, as well as lead the EU to align with the US vision of increased European commitments to security." As Trump has rattled traditionally solid relationships with European allies, Kushner said he appreciates the history between the two countries and is "dedicated to building an even stronger relationship." He told senators that he is a child of Holocaust survivors who came to the United States after World War II, and his grandmothers and other members of his family were executed by Nazis. New Hampshire Senator Jeanne Shaheen, the top Democrat on the Senate Foreign Relations Committee, told Kushner that his nomination comes at a "critical time" because "our European allies are anxious." 'One of the most loathsome, disgusting crimes' Shaheen also asked Kushner about his criminal past. He replied that he made a "very, very, very serious mistake, and I paid a very heavy price for that mistake." Kushner was sentenced in 2005 to two years in prison after pleading guilty to 18 counts, including tax evasion and witness tampering. It was the highest sentence he could receive under a plea deal, but less than what Chris Christie, the US attorney for New Jersey at the time and later governor and Republican presidential candidate, had sought. Christie called it "one of the most loathsome, disgusting crimes" he ever prosecuted as US attorney. Kushner also agreed to pay $508,900 to the FEC for violating contribution regulations by failing to obtain an OK from partners to whom more than $500,000 in contributions were credited. Announcing Kushner's pardon in 2020, Trump's first White House cited Kushner's more recent charitable work as the reason he deserved clemency. "This record of reform and charity overshadows Mr. Kushner's conviction and 2 year sentence for preparing false tax returns, witness retaliation, and making false statements" to the Federal Election Commission, the White House said then. Kushner was confirmed with the support of one Democrat — New Jersey Sen. Cory Booker. In his prepared testimony for his confirmation hearing, Kushner thanked Booker for his "special and close friendship."
Epoch Times
21-05-2025
- Business
- Epoch Times
Senate Confirms Charles Kushner as US Ambassador to France
The Senate on Monday confirmed Charles Kushner, a New Jersey real estate mogul and father of Jared Kushner, as United States ambassador to France. Kushner, 71, was confirmed by the upper chamber in a 51–45 vote on Monday. Who Is Charles Kushner? Kushner runs the New York-based real estate firm Kushner Companies. His son, Jared, is married to President Donald Trump's eldest daughter, Ivanka. Jared Kushner served as one of Trump's senior advisers during his first term in the White House.
Yahoo
20-05-2025
- Business
- Yahoo
1 Democratic Senator Voted To Confirm Jared Kushner's Ex-Con Dad To Be Ambassador To France
WASHINGTON — The Senate has confirmed real estate developer Charles Kushner, the father of President Donald Trump's son-in-law Jared Kushner, to serve as ambassador to France. Kushner was confirmed with the support of one Democrat — New Jersey Sen. Cory Booker. In his prepared testimony for his confirmation hearing, Kushner thanked Booker for his 'special and close friendship.' Charles Kushner was pardoned by Trump in December 2020 after pleading guilty years earlier to tax evasion and making illegal campaign donations. Prosecutors alleged that he hatched a scheme for revenge and intimidation after discovering his brother-in-law was cooperating with federal authorities in an investigation, hiring a prostitute and arranging to have the encounter recorded with a hidden camera and sent to his own sister, the man's wife. Kushner, who was confirmed 51-45, is the founder of Kushner Companies, a real estate firm. His son Jared is a former White House senior adviser to Trump who is married to Trump's eldest daughter, Ivanka. When he announced his intention to nominate Charles Kushner in November, Trump called him 'a tremendous business leader, philanthropist, & dealmaker.' Charles Kushner will head to France as the relationship between the two traditional allies, and between the U.S. and the rest of Europe, has been strained over Trump's trade policies and the U.S. role in the Ukraine war. At his confirmation hearing earlier this month, Kushner said he would work closely with France to 'bring greater balance to our important economic relationship' and also encourage France to 'invest more in its defense capabilities, as well as lead the EU to align with the U.S. vision of increased European commitments to security.' As Trump has rattled traditionally solid relationships with European allies, Kushner said he appreciates the history between the two countries and is 'dedicated to building an even stronger relationship.' He told senators that he is a child of Holocaust survivors who came to the United States after World War II, and his grandmothers and other members of his family were executed by Nazis. New Hampshire Sen. Jeanne Shaheen, the top Democrat on the Senate Foreign Relations Committee, told Kushner that his nomination comes at a 'critical time' because 'our European allies are anxious.' Shaheen also asked Kushner about his criminal past. He replied that he made a 'very, very, very serious mistake, and I paid a very heavy price for that mistake.' Kushner was sentenced in 2005 to two years in prison after pleading guilty to 18 counts, including tax evasion and witness tampering. It was the highest sentence he could receive under a plea deal, but less than what Chris Christie, the U.S. attorney for New Jersey at the time and later governor and Republican presidential candidate, had sought. Christie called it 'one of the most loathsome, disgusting crimes' he ever prosecuted as U.S. attorney. Kushner also agreed to pay $508,900 to the FEC for violating contribution regulations by failing to obtain an OK from partners to whom more than $500,000 in contributions were credited. Announcing Kushner's pardon in 2020, Trump's first White House cited Kushner's more recent charitable work as the reason he deserved clemency. 'This record of reform and charity overshadows Mr. Kushner's conviction and 2 year sentence for preparing false tax returns, witness retaliation, and making false statements' to the Federal Election Commission, the White House said then. Trump Wants Jared Kushner's Father To Be His Ambassador To France Senate Democrats Launch Probe Of Foreign Payments To Jared Kushner's Firm Look Who Showed Up For Trump's Victory Speech After Being No-Shows On Campaign Trail
