New York Observer Launches A New Newspaper

Jared Kushner and Ivanka Trump

The New York Observer’s parent company today announced its launching a new newspaper.

Yes, it’ll be in print.

It’s a real estate trade paper called The Commercial Observer, and according to a press release, it will “provide news exclusives, interviews, features and in-depth analyses and be delivered to approximately 10,000 commercial real estate insiders and members of REBNY (Real Estate Board of New York).”

New York’s real estate market is a mess right now — deals are off 90% y/y — and everyone knows print is dying, so this is quite the contrarian move.

But then 28-year-old Observer Media Group owner and publisher Jared Kushner — heir to real estate mogul Charles Kushner — is used to such risky moves, having purchased the Observer for $10 million back in 2006.

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