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

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

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.

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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

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

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

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.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

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

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