October 10, 2017
A development firm owned by the family of Jared Kushner, who is President Donald Trump's son-in-law and senior advisor, recently bought a beachfront motel in Long Branch, according to a report.
The Asbury Park Press reported Monday that Kushner Cos. bought the Ocean Court by the Sea motel for an undisclosed price. The Monmouth County property is reportedly 9,663-square-feet and worth more than $1.8 million.
The motel sits across the street from Pier Village, a residential, dining and shopping community along the city's beachfront that Kushner Cos. already owns with its partner, Extell Development Co.
Long Branch City Council approved a $283 million expansion for Pier Village last month. That plan includes a 72-room hotel overlooking the ocean and 269 luxury condo units that would cost betwen $510,000 and $2 million apiece to buy, the newspaper reported.
Although Kushner has stepped back from his role in the family's multibillion-dollar firm since taking his position in the White House, the North Jersey native still has a stake in Pier Village, according to an APP report in September that cited Kushner's financial disclosure form, released July 22.