Kushner & RFR Sign $480M Dumbo Heights Loan Extension for their Mixed-use Campus

RFR and Kushner Companies have successfully negotiated a four-year extension on their $480 million loan for Dumbo Heights, a substantial mixed-use campus located in Brooklyn. This financial move ensures continued development and stability for the property.

Key Tenant Lease Modification

WeWork, a significant tenant within the complex, has had its lease at 77 Sands Street modified, ensuring it remains a primary occupant. This adjustment helps maintain the building's occupancy and enhances the site's appeal to other potential tenants.

Overview of Dumbo Heights

Dumbo Heights is strategically positioned between the Manhattan and Brooklyn Bridges. The campus comprises several buildings, including 55 Prospect Street, 81 Prospect Street, 117 Adams Street, and 77 Sands Street. This location benefits from excellent connectivity and visibility.

Major Tenants and Offerings

The site hosts notable tenants such as Etsy and the Brooklyn Laboratory Charter Schools, which contribute to the campus's dynamic environment. In addition to office space, Dumbo Heights offers a variety of retail experiences. These include health and wellness facilities, dining options, and other lifestyle amenities.

Exclusive Leasing Agents

Cushman & Wakefield's Remy Liebersohn, Jason Kroeger, and Robert Lowe serve as the exclusive leasing agents for Dumbo Heights. Their expertise is pivotal in managing the leasing process and attracting quality tenants to the campus.