Jehovah's Witnesses Sell Headquarters for $700 Million

[The Librarian]

Jehovah’s Witnesses’ lock down deal for $700M Brooklyn plot

The Jehovah’s Witnesses appear to have achieved a handshake with their BFFs: Jared Kushner, Aby Rosen and LVWRK.

The pricing is roughly $700 million for the Witnesses’ 733,000-square-foot world headquarters at 25-30 Columbia Heights and a 1.1-million-square-foot as-of-right development site at 85 Jay St.

The same group purchased 1.2 million square feet in Dumbo Heights for $375 million in 2013 from the Witnesses and are now leasing to such companies as WeWork and Etsy.

Tech outfits have been circling the Brooklyn waterfront properties — and the large “Watchtower” on the sign could someday be swapped for a name like “Facebook.”

Bob Knakal of Cushman & Wakefield has been running the sale for the Witnesses, who are moving to Warwick, NY.

Multiple contracts were handed out for the properties and, so far, all are unsigned.

There has been interest globally, and local bidders have included L&L Holding, East End Capital, Equity One and Vornado Realty Trust. When reached, the parties declined comment.

http://nypost.com/2016/04/13/jehovahs-witnesses-lock-down-deal-for-700m-brooklyn-plot/

[The Librarian]

Ivanka Trump's husband and other Jewish real estate developers are reportedly in talks to purchase the property.