JSB Capital Group, Holliswood Development, and Edifice Partners acquired a six-building East Village portfolio from Kushner Companies for $38 million. The portfolio includes four properties at 329-335 East Ninth Street, sold for $26.9 million, and two at 516-518 East 13th Street, sold for $11 million. The combined properties have 56 residential units and six retail spaces. Kushner, shifting focus to New Jersey, cited the “inhospitable” New York environment. Holliswood’s acquisition adds to its portfolio of tax-class 2A/2B buildings, considered a hedge against rising property taxes. The company has been targeting vacant buildings or those with free-market units.
516-518 East 13th Street
