Kushner Buys Additional Property in Long Branch
Updated: May 10, 2019
LONG BRANCH, NJ – Kushner Companies headquartered in New York, along with its partner, Extell Development, are the current owners of Pier Village in Long Branch and has purchased additional property along Ocean Ave. The Kushner company owns, manages, develops and redevelops properties. Their portfolio consists of more than 20,000 multifamily apartments, as well as 13 million square feet of office, industrial and retail space throughout New York, New Jersey, Pennsylvania, Maryland, Ohio and Illinois. The firm recently purchased Ocean Court by the Sea Motel located at the beachfront next to Pier Village, a spokesperson said in a statement. The motel has always been a family-owned business, was built in 1958. The property is also located across the street from the site of the future Pier Village phase III development.
The $283 million dollar plan for the third and final phase of Pier Village development was approved by the Long Branch City Council back in September.
The plan calls for a 72-room hotel overlooking the ocean. It will also house 269 luxury condo units. The units will range from $510,000 to $2 million to purchase. Also planned is a parking garage and public improvements such as a performance stage, boardwalk and a carousel. No plan has been discussed regarding the future of the Ocean Court by the Sea Motel, according to sources.
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