Jehovah’s Witnesses continue their DUMBO selloff with six more buildings sold to Jared Kushner

jun-19

Jehovah’s Witnesses continue their DUMBO selloff with six more buildings sold to Jared Kushner

The Watchtower building was not one of six that have sold for $375 million.But it has been shopped around in the past.

The Jehovah’s Witnesses have unloaded some holy real estate in DUMBO.

The Watchtower Bible and Tract Society, which has been based in the neighborhood for more than a century, has sold six buildings to Kushner Companies for $375 million — a portion of the society’s holdings.

The buildings — including the plant with the iconic “Watchtower” sign — would be worth far more than that, but they remain zoned for commercial or manufacturing use only — and some would-be buyers doubted they could get a residential rezoning.

Jared Kushner, the New York Observer publisher and real estate mogul, was vague about his plans — but definitely said he wanted to capitalize on the neighborhood’s booming tech sector.

“These properties feature large, creative office space right in the heart of the growing Brooklyn Tech Triangle,” Kushner said in a statement. “We look forward to playing a key role in the continued improvement of the neighborhood and advancement of the market.”

Watchtower has been selling its Brooklyn properties as it continues to move operations upstate. Last year, it sold the Bossert Hotel on Montague St. for $81 million.

The selloff began a decade ago with the sale of a printing plant on Furman St. for $205 million. That building is now the super-luxury One Brooklyn Bridge Park.

Read more: http://www.nydailynews.com/new-york/brooklyn/jehovah-witnesses-sellout-continues-article-1.1396099#ixzz2YyLgDToP

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