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    90 Sands Street

    90 Sands Street
    Brooklyn, NY 11201
    Hotel, Office, Residential, Ground Lease

    90 Sands Street is a 30-story hotel built in 1992 that houses members of the Jehovah's Witnesses religious group. It is part of a complex that includes five other buildings the Jehovah's Witnesses sold for $375 million in 2013 to  Kushner Companies, a family-owned real estate developer and landlord, along with RFR Realty and  LIVWRK, the real-estate startup of former Two Trees executive Asher Abehsera.

    The Witnesses have use of the 400,000-square-foot hotel building until 2017. The investor group is converting the remaining buildings, now christened Dumbo Heights, into a complex of loft-style creative office buildings catering to tech-company tenants. The buildings, connected by sky bridges, have sand-colored brick facades and green-painted windows. In August 2016, a joint venture between CIM Group,  Kushner Companies, and LIVWRK announced the acquisition of the Witnesses' Watchtower building nearby on Columbia Heights. The Witnesses are relocating their headquarters to Warwick, New York.

    • residential units 508
    • total units 508
    • square feet 301,618
    • block and lot 3-00087-0009
    • BIN 3000179
    • Event Sales
    • Address 90 Sands Street
    • Neighborhood Dumbo
    • Borough Brooklyn
    • Square feet 363,100
    • Price $ 170,000,000
    notes
    The buyer acquired the Dumbo property for $170 million.
    • Event Financing
    • Address 90 Sands Street
    • Neighborhood Dumbo
    • Borough Brooklyn
    • Square feet 363,100
    • Price $ 157,000,000
    notes
    The lender issued an acquisition loan of $157 million for the Dumbo property.
    • Event Financing
    • Address 90 Sands Street
    • Neighborhood Downtown Brooklyn
    • Borough Brooklyn
    • Square feet 363,100
    • Price $ 140,000,000
    • Publication Date 10/01/2017
    • Event Date 09/05/2017
    • Party 1 RFR Holding
    • Party 2 AllianceBernstein
    notes
    The real estate investment, development and manadgement company acquired a refinancing loan for $140 million.

    10/31/2017
    Clockwise from top left: Rending for the Long Island College Hospital redevelopment in Cobble Hill, 97 Columbia Heights and 55 Washington Street in Dumbo UPDATED, Clockwise from top left: Rending for the Long Island College Hospital redevelopment in Cobble Hill, 97 Columbia Heights and 55 Washington Street in Dumbo UPDATED,...
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