Trending
![“Not even distressed” rent-stabilized property sells for peanuts](https://static.therealdeal.com/wp-content/uploads/2024/07/ft_NY_Inwood-Rent-Stabilized-Sale-1-150x106.png)
![Joe Sitt loses two Manhattan buildings to foreclosure](https://static.therealdeal.com/wp-content/uploads/2024/07/NY-Joseph-Sitts-Thor-Equities-loses-two-Manhattan-buildings-to-foreclosure-FEATUREIMG_v2-150x106.jpg)
![Tatiana Pino now owns Century Homebuilders after Sergio Pino’s death, her attorney says](https://static.therealdeal.com/wp-content/uploads/2024/07/ft_MIA_Tatiana-Pino-Century-Builders-Group-150x106.png)
![BREAKING: Sergio Pino allegedly hired two crews to murder his estranged wife, law enforcement reveals](https://static.therealdeal.com/wp-content/uploads/2024/07/ft_MIA_Sergio-Pino-Tatiana-Pino-Update-150x106.png)
Jehovah’s Witnesses portfolio could fetch as much as $1B
As TRD first reported, religious group is marketing 3 properties including Watchtower headquarters
![Jehovah's Witnesses Brooklyn](https://static.therealdeal.com/wp-content/uploads/2015/12/Jehovahs1.jpeg)
In a reversal of sorts, buyers are knocking on the Jehovah’s Witnesses’ door, hoping to grab up pieces of its massive Brooklyn headquarters complex. Industry experts say the properties could go for a combined $1 billion.
As The Real Deal first reported earlier this month, the religious organization is looking to sell three properties, including its 733,000-square-foot headquarters 25-30 Columbia Heights in Brooklyn Heights, known as the Watchtower. The group is also selling a residential building at 124 Columbia Heights, and a 135,000-square-foot development site at 85 Jay Street in Dumbo.
Jehovah’s Witnesses has been selling off its properties in the area for years now, part of a planned relocation of the group’s headquarters upstate, to Warwick in Orange County, the New York Daily News reported.
The group sold a five-building portfolio in 2013 to a group including Jared Kushner’s Kushner Properties, Aby Rosen’s RFR Realty, Invesco and LIVWRK, banking $375 million. The group is upgrading the buildings and converting them into a hub for high-tech offices. That project is known as Dumbo Heights.
The Witnesses bought their headquarters building from Squibb Pharmaceuticals for $3 million in 1969. [NYDN] – Ariel Stulberg