Jared Kushner To Divest From Connectivity-Rating Business WiredScore

Jared Kushner

Jared Kushner is moving to sell his stake in WiredScore, as part of a continuing effort to separate his business interests from his role as a senior adviser to his father-in-law, President Donald Trump.

The real estate developer is in advanced talks with a Los Angeles-based buyer, Fifth Wall Ventures, to sell his shares in the SoHo-based internet connectivity certification service, although the deal could still fall through, the Wall Street Journal reports.

Early this year, Kushner disclosed that he held a managing membership in WiredScore's owner, Broadband Proliferation Partners LLC, and the value of his stake was between $5M and $25M. Total income from the investment amounted to $4.5M.

The company was co-founded by CEO Arie Barendrecht and launched in 2013 with early support of then-Mayor Michael Bloomberg. WiredScore rates and certifies office buildings for the speed and reliability of internet connections. The firm has rated more than 750 commercial office buildings in the United States, of which more than 300 are in New York City. The certification system also assists office landlords with developing and updating their telecommunications infrastructure.

Recently, WiredScore announced that it is expanding services to Paris, a 2B SF office market with mostly older buildings. In 2015 WiredScore started global expansion with entry into London and has now certified more than 175 buildings in the United Kingdom.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Delaware Statutory Trust Fundraising Jumps 27% From 2025

Tishman Speyer Retakes Chrysler Building, Plans $235M Renovation

Activist Investor Buys Stake In Empire State Building Owner

DRA Buys Stake In 1301 Sixth Ave. At $1.3B Valuation: The N.Y. Deal Sheet

CRE Finance Sentiment Index Falls To 3-Year Low As Economic Fears Mount

RN3 Enters Dutch Logistics Market With DHL Sale-Leaseback Deal

Major NYC Multifamily Firm Expands With Tech-Driven Operations

Hedge Fund Breaks NYC Record With $375-Per-SF Office Lease

High-Flying Midtown Office Market Back To Pre-Pandemic Health

Mamdani Officials, RGB Members Had Frequent Contact Before Rent Freeze, Communications Reveal

KKR's Chris Lee On Finding Opportunities As CRE Begins A 'Regime Change'

NYC Unveils The Places Where Council Members Can't Block Housing Anymore