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
Harbor Group International's Jordan Slone with with 51 West 52nd Street
TRD Pro: Top office sales of the past year
TRD Pro: Top office sales of the past year
From left: Kushner Companies’ Charles Kushner, Fortress Investment Group's Peter Briger, and Veris Residential’s Mahbod Nia (Getty, Fortress Investment Group, YouTube)
Kushner gets Fortress to fund hostile takeover of Veris
Kushner gets Fortress to fund hostile takeover of Veris
From left: Kushner Companies' Charles Kushner and Veris Residential's Mahbod Nia (Getty, Veris Residential)
Veris rejects Kushner’s takeover bid
Veris rejects Kushner’s takeover bid
Laurent Morali and 99 East 7th Street (left), 156 Sullivan Street (middle), and 318 East 6th Street (right) (Photo Illustration by The Real Deal with Getty, Google Maps, Compass, Apartments.com)
Kushners look to sell big piece of Manhattan apartment holdings
Kushners look to sell big piece of Manhattan apartment holdings
Kushner Companies' Charlie Kushner, Veris Residential's Mahbod Nia (Elkus Manfredi Architects, Getty, Veris Residential)
Kushner trashes Veris leadership to boost takeover bid
Kushner trashes Veris leadership to boost takeover bid
From left: Jane Goldman and Danny Meyer (Photo Illustration by Steven Dilakian for The Real Deal with Getty and Solil Management)
Danny Meyer’s Gramercy Park Hotel restaurant sues Solil
Danny Meyer’s Gramercy Park Hotel restaurant sues Solil
Nicole Kushner Meyer with 812 Park Avenue (Kushner, Google Mpas, Getty)
Nicole Kushner Meyer lists Lenox Hill co-op for $12M
Nicole Kushner Meyer lists Lenox Hill co-op for $12M
Puck Building at 293 Lafayette Street (Kushner)
Penthouse at Kushner’s Puck asks $35M
Penthouse at Kushner’s Puck asks $35M
arrow_forward_ios

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

Loading...