Jared Kushner signed a contract on Wednesday to buy the iconic 250,000 square-foot retail condominium at 229 W. 43rd St. in Times Square from Africa-Israel USA and Five Mile Capital for $296 million.
The retail space is located on multiple, high-ceilinged floors in the base and lower levels of the former New York Times printing plant and includes frontage on both W. 43rd and W. 44th streets. It houses Discovery Times Square, Bowlmor, Haru Times Square, Guitar Center and Guy’s American Kitchen & Bar.
Kushner Cos. plans to combine the roughly 30,000 square feet that is currently vacant with a similar-sized space that was occupied by the now shuttered Jekyll & Hyde to entice a 60,000 square-foot user, sources said.
Helen Hwang of Cushman & Wakefield advised the sellers, while CBRE’s Lon Rubackin and Gary Trock consulted for Kushner.
Africa Israel previously sold the upper floors to Blackstone, which rented offices to tech tenants that include Yahoo! and Snapchat.
No one returned requests for comment.
