RFR and Kushner Cos. have secured a 4-year extension of the existing $480 million loan on a four-building, 750,000 square foot Dumbo Heights mixed-use campus in Brooklyn. In addition, the owners have completed a lease modification with WeWork, which will continue to occupy the space at 77 Sands Street in Dumbo Heights.
Besides the 56,000 square foot WeWork location at 77 Sands, major office tenants include Etsy and Brooklyn Laboratory Charter Schools.
Located between the Manhattan and Brooklyn Bridges at the intersection of the Brooklyn Heights, Downtown Brooklyn, Vinegar Hill and Dumbo neighborhoods, Dumbo Heights comprises 750,000 square feet of space across four adjacent buildings: 55 Prospect Street, 81 Prospect Street, 117 Adams Street and 77 Sands Street.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
