The Real Deal New York

Kushner, RFR close on most of $375M Watchtower buy

October 03, 2013 05:09PM

Kushner Companies and RFR Realty closed yesterday on five buildings that form the bulk of the $375 million purchase from the Jehovah’s Witnesses in Dumbo.

Kushner and Aby Rosen’s RFR inked a deal in July to buy the commercial properties, five of which lie within Brooklyn’s so-called “Tech Triangle.”

It was later revealed that Invesco Advisors was a third major investor in the deal.

The six buildings have a total of 1.2 million square feet of space. Five of the buildings are industrial, with the addresses 117 Adams Street, 175 Pearl Street, 77 Sands Street, 81 Prospect Street and 55 Prospect Street.

The religious organization vacated the five buildings in 55 days, it said in a statement posted on its website today. They expect to vacate the sixth building, a hotel at 90 Sands Street, in 2017.

— Adam Pincus