Coruscation

Some deal detail:

Instead of foreclosing on the 39-story building, which stretches from 52nd Street to 53rd Street, the lenders agreed last month to reduce the principal and defer some of the interest payments on the interest-only loan and extend its maturity for two years, until February 2019. In exchange, Kushner and its powerful new partner in the deal, Vornado Realty Trust, agreed to pour tens of millions of dollars into the building to improve its leasing prospects. The 1.5-million-square feet office building is currently 30 percent vacant.