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Kushner Companies looks to offload two Brooklyn Heights rental buildings

Two of the former Brooklyn Law School buildings purchased under the auspices of Jared Kushner have hit the market

114 Willow Street, one of the Brooklyn Heights buildings being sold by Kushner Companies.

It was just three years ago that Jared Kushner, who was then still heading up his family’s eponymous real estate business, snagged six former Brooklyn Law School buildings in Brooklyn Heights for $36.5 million. And not too long after that, those buildings were renovated; three became enormous single-family townhouses, while the other three were transformed into market-rate rentals.

But now, it looks like Kushner Companies (of which Jared is no longer CEO; he stepped down after taking a senior advisor role in the White House) is looking to offload at least some of that real estate. As first reported by the New York Post, two of the properties—rental buildings at 18 Sidney Place and 144 Willow Street—are being put up for sale, with a combined price tag of around $20 million.

Together, the two buildings have 29 units, all studios and one-bedrooms, of which two are rent-stabilized. Each building also has more than 5,000 buildable square feet of space. When Kushner bought them in 2014, they spent months making them fit for renters; that translates to new plumbing and wiring, video intercoms, hardwood floors, new moldings, and kitchens with stainless steel appliances and Caesarstone countertops.

As for those other Brooklyn Heights properties, Kushner Companies is still listed as the owner of 89 Hicks Street, a rental; and two of the single-family homes at 100 Pierrepoint Street and 38 Monroe Place. Another, 27 Monroe Place, sold earlier this year for $12.9 million.