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Jehovah’s Witnesses’ Brooklyn properties see price surge

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The Jehovah’s Witnesses have had such a tremendous response to their Brooklyn land and office offerings that they have now hired Bob Knakal of Cushman & Wakefield to vet the wheat from the chaff.

Additionally, with “dozens” of offers received from both locals and global players, sources say the bidders are also now expecting a winnowing second round.

The Witnesses are selling both a rare 135,000-square-foot tract of vacant land at 85 Jay St. for a mixed-use project as well as the four-building office complex of 733,000 square feet at 25-30 Columbia Heights.

Because of the interest and coming second round, pricing is now expected to be well over the $300 million mark, more akin to last year’s expected pricing.

Sources: http://nypost.com/2016/03/09/jehovahs-witnesses-brooklyn-properties-see-price-surge/




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