Jehovah’s Witnesses sell Adams Street development site

Group is keeping quiet on buyer and price

TRD New York /
Nov.November 03, 2016 10:05 AM

The Jehovah’s Witnesses have sold another development site in Dumbo, but are keeping mum on the selling price and the buyer.

The organization sold 69 Adams Street, a four-story recreational facility with 157,410 square feet of development rights, the Brooklyn Eagle reported. The new owner can build a residential tower with commercial space, retail and a community facility as-of-right on the property. Richard Devine, a spokesperson for the organization, said he expects to close on the sale by the end of the year.

The organization moved its headquarters to Warwick, N.Y., in September after roughly a century in Brooklyn. Because of the move, the Witnesses have been selling off their Brooklyn properties, including the group’s headquarters at 25-30 Columbia Heights, known as the Watchtower. In April, investors Jared Kushner, LIVWRK and CIM Group picked up that property for $340 million as well as a development site at 55 Furman Street (though that deal hasn’t closed).  The religious group listed the Adams Street property in May. [Brooklyn Eagle] — Kathryn Brenzel 


Related Articles

arrow_forward_ios

Here’s how much Fortis paid for its Jehovah’s Witnesses site

Here’s what Fortis is planning at former Jehovah’s Witnesses site

Kayne Anderson lands $200M loan for former Jehovah’s Witnesses building

These were the biggest Q4 deals in Brooklyn

The top 10 biggest real estate projects coming to NYC

So long, Watchtower: Famed 70-year-old Brooklyn sign comes down

Jeffrey Gershon closes on Jehovah’s Witnesses Dumbo building

Florida firm gets $107M loan for purchase of Jehovah’s Witnesses building

arrow_forward_ios