Kushner, Rosen to buy Watchtower building, Jay Street site for $700M: report

Group bought five Dumbo properties from Witnesses in 2013 for $375M

New York /
Apr.April 13, 2016 09:06 AM

A group of investors led by Jared Kushner and Aby Rosen are reportedly set to lay out $700 million for two of the Jehovah’s Witnesses’ coveted Brooklyn properties.

Kushner Companies, RFR Realty and LIVWRK are in advanced talks to buy the group’s 733,000-square-foot headquarters at 25-30 Columbia Heights in Downtown Brooklyn, known as the Watchtower, and a 135,000-square-foot right site at 85 Jay Street in Dumbo with 1.1 million square feet of as-of development rights, the New York Post reported.

The same joint venture bought a five-building, 1.2 million-square-foot Dumbo portfolio from the Witnesses in 2013, paying $373 million.

The Witnesses are leaving Brooklyn after a century in the borough, with plans to set up a new headquarters in Warwick, NY.

The group is also shopping a seven-story apartment building at 124 Columbia Heights. Cushman & Wakefield’s Bob Knakal is marketing the properties on the Witnesses’ behalf. [NYP]Ariel Stulberg


Related Articles

arrow_forward_ios
285 Lafayette Street (Kushner, HypeClub, iStock)
Sneaker hub HypeClub to open brick-and-mortar location in SoHo
Sneaker hub HypeClub to open brick-and-mortar location in SoHo
LIVWRK’s Asher Abehsera and CIM's Shaul Kuba with an aerial of 85 Jay Street (LIVWRK, Getty, Google Maps)
CIM, LIVWRK look to sell Dumbo rentals for $235M
CIM, LIVWRK look to sell Dumbo rentals for $235M
Gustavo Miculitzki, Laurent Morali and Charles Kushner with a rendering of their Wynwood project
Kushner starts construction on first South Florida development, scores $80M loan
Kushner starts construction on first South Florida development, scores $80M loan
Donald Trump and Rosemary Vrablic (Getty/Illustration by Kevin Rebong for The Real Deal)
Real estate deal prompted resignation of Trump’s longtime banker
Real estate deal prompted resignation of Trump’s longtime banker
From left: 2201 Collins Avenue in Miami Beach, Joseph Nakash, Aby Rosen, Ralph Nakash, and David Edelstein (Photos via Marriott; Getty)
Nakash family sells W South Beach units to RFR, Tricap
Nakash family sells W South Beach units to RFR, Tricap
Jared Kushner and Ivanka Trump with Arte Surfside (Getty, Arte)
Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
Laurent Morali and Charles Kushner (iStock)
Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
Ivanka and Jared’s rumored Indian Creek Island purchase closes for $32M
Ivanka and Jared’s rumored Indian Creek Island purchase closes for $32M
Ivanka and Jared’s rumored Indian Creek Island purchase closes for $32M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...