Jared Kushner and CIM Group are in contract to sell the downtown office building at Two Rector St. for roughly $225 million to Kevin Hoo of Cove Property Group and the pension fund investment manager Bentall Kennedy.
Hoo and Bentall Kennedy are expected to target boutique office users for the 465,000-square-foot tower that sits between Greenwich Street and Trinity Place, sources told The Post.
Hoo is a former executive with Savanna, the investment firm that previously owned Two Rector with Larry Gluck and sold it to Kushner and CIM for $140 million in 2013.
Douglas Harmon and Adam Spies of Eastdil Secured also sold Savanna and Gluck the former Lehman stake in Two Rector and then, along with Eastdil colleagues Kevin Donner and Brett Siegel, marketed the 26-story tower on behalf of sellers Kushner and CIM. The purchase price comes to roughly $480 a square foot.
