The Real Deal New York

Jehovah’s Witnesses list another Dumbo dev site

Property at 69 Adams Street has 157K of buildable space

May 17, 2016 09:30AM

69 Adams Street in Dumbo

69 Adams Street in Dumbo

The Jehovah’s Witnesses aren’t out of prime Brooklyn real estate properties just yet.

The organization is listing 69 Adams Street, a four-story recreational facility with about 157,000 square feet of as-of developments rights.

The Witnesses have owned the site, which has 103 feet of Front Street frontage, since 1991.

The property is the latest offered by the group, which is leaving Brooklyn for Warwick, NY after over a century headquartered in the borough, the Brooklyn Eagle reported.

In April, a group of investors led by Jared Kushner and Aby Rosen picked up two of the most coveted properties – 25-30 Columbia Heights in Downtown Brooklyn, known as the Watchtower, and a development site at 85 Jay Street in Dumbo, which has 1.1 million square feet of rights – for about $700 million.

Vincent Viola, founder and CEO of Virtu Financial, paid $105 million for the 153,000-square-foot 124 Columbia Heights in Brooklyn Heights late last month.

The Witnesses listed the 161-unit, 154,000-square foot rental building at 107 Columbia Heights last month. [Brooklyn Eagle]Ariel Stulberg

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