Hotel Bossert deal imminent
September 09, 2008 12:10PM By Lauren Elkies
Hotel Bossert
R.A.L. Companies & Affiliates is expected to buy the former Hotel Bossert at 98 Montague Street for $92 million and turn it into student housing, according to Robert Levine, president and CEO of R.A.L. Companies & Affiliates.
"It's pretty much a done deal," he said, adding that he expects to close on the sale by the end of the month.
The historic 14-story, 224-unit building, once referred to as "the Waldorf-Astoria of Brooklyn" is owned by the Jehovah's Witnesses. Levine said the society has been using it as a hotel for visiting dignitaries. In its heyday, the Brooklyn Heights hotel played host to the Dodger's only World Series victory party in 1955 before the team moved to Los Angeles. The Watchtower Bible and Tract Society of New York, the corporation that undertakes real estate operations for Jehovah's Witnesses, opened up bidding for the building early this year.
"It is truly a beautiful landmark building," Levine said. He said his company intends to renovate the interior of the 140,000-square-foot building and turn it into student housing. R.A.L. would then sell or lease the building to a university. Levine assured that his company will retain the Bossert part of the hotel's name.
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Comments
Anonymous
It's a very sad day. At least the Jehovah's Witnesses were well behaved and they kept the place spotless. The neighborhood will just go to hell if this building goes dorm. No pun intended.
Comment #1 Posted By: Anonymous 09/09/08
Anonymous
more bad news for Montague (where is the BH Association on this?)...and good news for all the crappy chain restaurants on the street
Comment #2 Posted By: Anonymous 09/09/08
Anonymous
That stinks.
Comment #3 Posted By: Anonymous 09/10/08
Anonymous
Real Estate Taxes will now be paid and the occupants will support the local economy which the JW's don't as they are self contained. Not sure that college kids will make Montague Street any worse; maybe a real estate office will turn into a health food cafe.
Comment #4 Posted By: Anonymous 09/10/08
Anonymous
yeah, damn students. they suck. should be turned into luxury coops for the truly deserving.
Comment #5 Posted By: Anonymous 09/10/08
Anonymous
Is student housing even allowed there?!! How do we find out?!
Comment #6 Posted By: Anonymous 09/11/08
Anonymous
Great, Montague Street will be even more unattractive. Kudos to the BH Association for being on top of this issue.
Comment #7 Posted By: Anonymous 09/14/08
Anonymous
i have i new sight that can house over 140,000 sq ft to be built and is across form transportation that would cost less money... if interested email me.. and we'll exchange numbers
Comment #8 Posted By: Anonymous 09/14/08
Anonymous
You know, I keep hearing these comments about the JWs not contributing to the community economy but do you realize how much money must come into our community from all of the visitors that come through every year? I wonder if anyone knows how many tourists they bring into BH every year who end up spending money in our restaurants when they're not "invited" in for meals?
Comment #9 Posted By: Anonymous 10/21/08