Kushner Cos. offers $250M for co-op: sources

Kushner Companies, reeling from a cash hemorrhage at 666 Fifth Ave. and vexed by multiple governmental investigations, is audaciously trying to stake a claim on Park Avenue, The Post has learned.

The real estate giant previously run by presidential adviser Jared Kushner has offered $250 million to buy out an entire luxury co-op building — fabled 417 Park Avenue, which until recently was the only residential address on the glamorous boulevard between Grand Central Terminal and 57th Street.

The 417 Park co-op board met on March 28 to discuss a “letter of interest” from Kushner Realty offering to buy all 10,000 apartment shares, according to a letter from the board to residents that was seen by The Post.

The bid breaks down to an average price of $8.9 million per apartment.

The 417 Park Ave. board was also approached by William Macklowe Companies, headed by Billy Macklowe.

Through a rep, Charles Kushner did not deny the offer but declined to comment. Billy Macklowe declined to comment.

The Emery Roth-designed 417 Park Ave., at 55th Street, opened in 1916. It has 26 apartments on 13 floors behind a stately limestone façade. It converted from a rental to a co-op in 1946 and survived the wave of office construction that wiped out its apartment neighbors.

Glamorous occupants include “Scarface” producer Marty Bregman, whose 4,000-square-foot pad has been on the market at $7 million-$10 million for several years but has yet to snare a buyer, and, formerly, “The Exorcist” director William Friedkin.

It’s exceedingly difficult, but not impossible, to buy a residential co-op building from its shareholders. Typically, 100 percent of unit owners must agree to any sale offer and to the price. However, 417 Park Ave. requires only a 67 percent majority to sell the property, insiders said.

What made the building, known as “the holdout,” newly desirable is recent East Midtown rezoning, which could allow a much larger building to replace it.