Kushner, RFR face repeat Dumbo nightmare

Kushner Companies and RFR narrowly avoided disaster at their four-building Dumbo portfolio in 2024. Two years later, they’ll be looking to pull off another magic trick. The Dumbo Heights portfolio is back in special servicing, Crain’s reported, citing a Morningstar Credit Analytics report. The landlords are facing a $480 million mortgage and other debt set to come due in six months. The landlords defaulted on a $180 million CMBS loan back in September 2023 and struggled to repay a B note of $145 million, as well as two mezzanine loans from Korean lenders for $80 million and $75 million. They […] This article originally appeared on The Real Deal. Click here to read the full story.