151
NEW YORK CITY — Bridgewater, N.J.-based Kushner Real Estate Group (KRE) and Hoboken, N.J.-based Ironstate Development Company have completed the disposition of a development site at 241 Fifth Avenue in Manhattan’s Madison Square neighborhood. Victor Homes acquired the 132,000-buildable-square-foot site for $99 million. KRE purchased three adjacent buildings and spent the last few years acquiring air rights to develop a luxury condo building. KRE and Ironstate engaged Hollwich Kushner (HWKN) to design the property, but ultimately decided to sell the site at the corner of Fifth Avenue and 30th Street. Yoav Oelsner and Glenn Tolchin of JLL brokered the transaction.