Real estate investment firm RFR and Kushner Companies today announced that they have entered into a contract to acquire six properties in Brooklyn from the Watchtower Bible and Tract Society for $375 million. According to the press release (July 8, 2013), Jared Kushner (of Kushner Companies), Aby Rosen (of RFR), and Asher Abehsera (a former Two Trees Management Company executive) teamed up to purchase the portfolio of buildings which total 1.2 million square feet of commercial space. The buildings include:

• 117 Adams Street
• 175 Pearl Street
• 55 Prospect Street
• 81 Prospect Street
• 77 Sands Street
• 90 Sands Street

These buildings are included as part of the Brooklyn Tech Triangle master plan and could be key buildings in the development of the plan for creating appropriate commercial space and connectors between Dumbo, Navy Yards, and Downtown Brooklyn.

90 Sands Street is a 30 story, 500+ room residential building will be turned over vacant at closing in September, according to a NY Post story.

According to the Post, the Jehovah’s Witnesses moved their headquarters to Brooklyn in 1909. As part of their plans to move to Warwick, NY, they have been selling off a 34-building portfolio, including lots in Dumbo at 173 and 177 Front Street as well as 200 Water Street in April 2013.

(175 Pearl Street)

(90 Sands Street, Photo by a.pitch)

Related:
{The Watchtower Moving Some Operations from Brooklyn, 26Mar2009}
{Watchtower Properties in Dumbo?, 29Sept2011}
{Jehovah’s Witness Buildings Could Offset Brooklyn Bridge Park Costs, 08Oct2010}

Source: Dumbo NYC
http://feedproxy.google.com/~r/DumboNyc/~3/zlCNVc-KU9I/

Curbed first reported that the Dumbo Townhouses at 55-57 Pearl Street (aka 169 Water Street) is listed for $4.1 million each. Sotheby’s is listing the 18′ wide, 5 story townhouse. There are 5 townhouses – four are 3,049 square feet and one is 3,358 square feet with 4 bedrooms and 3 full baths. At $4.1 million, or $1344/sqft for the 3,049 sqft townhouse are asking more than recent closing prices for 1 Main Street (which are closing at $1,000 – 1,250 per sqft, according to recorded sales in the past month).

Related:
{More Details About Dumbo Townhouses Revealed}
{Pearl Street Townhouse on the Market, 10jun2013, Brownstoner}
{Inside Dumbo’s First Houses, Now Available for $4.1M Apiece, 09jun2013, Curbed}

Source: Dumbo NYC
http://feedproxy.google.com/~r/DumboNyc/~3/QGKbXWedvqA/