Jehovah’s Witnesses property sells for $6.6M, to be used for luxury rentals

New York /
Apr.April 23, 2012 02:00 PM

An unidentified investor group has purchased the last remaining Jehovah’s Witnesses property that Massey Knakal Realty Services marketed for $6.6 million, Crain’s reported, 14 percent below the asking price. The group plans to turn the seven-story, 13-unit building, located at 183 Columbia Heights in Brooklyn Heights, into luxury rentals with leasing expected to begin this summer.

“Our clients were very pleased with the results,” Massey Knakal Chairman Bob Knakal told Crain’s, who marketed three Jehovah’s Witnesses properties, which was first reported last summer.

As previously reported, 161 Columbia Heights, which Sugar Hill Capital Partners purchased earlier this year, recently hit the rental market.

The other property, 50 Orange Street, sold for $7.1 million in January.

The Jehovah’s Witnesses are eyeing an upstate move and put an additional five Brooklyn Heights buildings up for sale last summer. [Crain’s]


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