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N.J. real estate firms sell Manhattan site for $99M

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Kushner Real Estate Group and Ironstate Development Company announced Monday that they had sold a development site at Fifth Avenue and 30th Street for $99 million. The deal with Victor Homes for the 132,000 buildable square feet set a Madison Square Park record for price, according to a news release.

“Victor Homes built a beautiful building just a few blocks south at 241 Fifth Avenue and, simply put – we felt comfortable making a deal with them and they offered us a price we couldn't refuse," Jonathan Kushner of KRE said in a news release.

KRE is based in Bridgewater and Ironstate is based in Hoboken.

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Eric Strauss

Eric Strauss

Eric Strauss is the digital content editor for NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com or @acerimrat on Twitter.

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