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SL Green Realty Corp and Kushner Cos Agree to Sale of Land in Brooklyn

SL Green Realty Corp. and Kushner Cos. are selling a development site in Brooklyn.

Aby Rosen’s RFR Realty LLC agreed to buy the lot, in the gentrifying Gowanus section, according to two people with knowledge of the deal. The people, who asked not to be identified because the matter is private, didn’t disclose a price.

SL Green, one of New York’s biggest real estate companies, owns 95 percent of the parcel, purchased in 2014 for $72.5 million, according to Real Capital Analytics Inc. Kushner Cos. shares the remaining 5 percent with LVWRK, a Brooklyn-based development firm. Crain’s New York Business earlier Wednesday reported the pending sale of the parcel, which is now being used as a parking lot.

Representatives for SL Green, Kushner Cos. and RFR declined to comment. A call to LIVWRK wasn’t immediately returned.

The Gowanus lot is one of several New York properties in which the Kushner Cos. stake is in the single digits. The firm was led by Jared Kushner, who transferred some of the company’s assets to family members upon becoming a senior adviser to President Donald Trump, his father-in-law.

Kushner Cos. owns a much larger chunk of its Manhattan trophy tower, 666 Fifth Ave., and is in talks to buy back the 49.5 percent interest it sold to Vornado Realty Trust as part of a 2011 refinancing agreement.

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