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In Unusual Move, Brokerage To Handle Sale of Watchtower Buildings


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WOW, Things are really happening back at the center of all things important!!! Looks like we better get to Brooklyn before it's all gone!

In Unusual Move, Brokerage To Handle Sale of Watchtower Buildings


By Linda Collins | Brooklyn Daily Eagle


BROOKLYN HEIGHTS — In an unusual move for the Jehovah’s Witnesses (also known as the Watchtower Bible and Tract Society), Massey Knakal Realty Services will be handling the sale of three of the religious organization’s Brooklyn Heights buildings.

First reported yesterday in the Commercial Observer, the properties will be marketed separately and, this time, have asking prices attached.

As the Eagle has reported in the past when the Watchtower offered up properties for sale, it is usually without asking prices.

“We let the market determine the price,” Richard Devine, a spokesperson, has told this newspaper. There usually has been no brokerage assigned to handle the sales and marketing either.

Devine confirmed the Observer’s report for the Eagle Wednesday, saying this is definitely a different way of handling things for the religious organization.

According to Massey Knakal, reached Wednesday afternoon, the three properties — at 183 Columbia Heights, 50 Orange St. and 161 Columbia Heights — have a combined valued of $18.45 million. The three and their asking prices are described as follows:

• 50 Orange St., a five-story elevatored building with 20 vacant market-rate apartments in 15,355 square feet, including the cellar, has an asking price of $7.35 million. It was recently renovated, includes central heating and air-conditioning and is move-in ready, according to Massey Knakal.

• 183 Columbia Heights, a seven-story elevatored building with 13 market-rate apartments in 15,158 square feet, including the cellar, has an asking price of $7.65 million. Dating to 1920, it will also be delivered vacant.

• 161 Columbia Heights, is 7,513-square-foot building with 10 apartments, including seven market-rate, one rent-stabilized unit and two rent-controlled units. Dating to 1844, the asking price is $3.45 million.

“This property [161] is an excellent candidate for an owner-user who wishes to live in a portion of the building while receiving income from the remaining apartments,” said Massey Knakal Chairman Robert Knakal, who is handling sales along with Jonathan Hageman, sales team manager, and Stephen Palmese, director of sales.

According to Devine, the 161 building comes with some occupants who pre-existed its acquisition by the Watchtower.

All three have been owned by the Watchtower for over 20 years.

The Eagle reported in 2007 that two of the properties — 161 and 183 Columbia Heights — were offered for sale as part of a portfolio that included the former Standish Hotel, a 12-story building with 128 apartments at 169 Columbia Heights.

The Standish, built in 1903, was subsequently sold by itself; the other two were withdrawn from the market. At one point, Toll Brothers reported it had made an offer on the original portfolio (including the Standish) but had never been successful.

“We have made offers over the years for various buildings,” Toll’s David Von Spreckelsen told the Eagle yesterday. “We weren’t the high bidders and the buildings went to other parties or, in the case of the [Hotel] Bossert, didn’t trade.”

According to Knakal, the buildings at 50 Orange and 183 Columbia Heights have “stunning” views of the Manhattan skyline, harbor and bridges from their upper floors.

Watchtower is known for its immaculate and well-kept buildings, so there should be no problem in attracting buyers, according to Knakal.

“Each of the properties presented for sale have been maintained according to the incredibly high standards of care and attention that Watchtower is particularly well-known for. The Witnesses' award-winning restoration and maintenance of their properties is well-documented.”

Article Source: Brooklyn Daily Eagle


Further new angles and nice comments about our care of our buildings--every

Bethelite and temp Bethel worker over the years who've worked in bldg

maintenance or remodel, have each made in effect large financial

contributions to Jah & his Kingdom interests--been a pleasure over the

traveling years when meeting such brs (& their families back home) who've

sacrificed weeks and months to such projects to rejoice with them. Their

respons usually is, "I wouldn't have traded the experience for anything...!'

(no need to respond--just thot you'd enjoy as I did)

http://www.brooklyneagle.com/categories/category.php?category_id=5&id=45181

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I loved this:

Watchtower is known for its immaculate and well-kept buildings, so there should be no problem in attracting buyers, according to Knakal.

“Each of the properties presented for sale have been maintained according to the incredibly high standards of care and attention that Watchtower is particularly well-known for. The Witnesses' award-winning restoration and maintenance of their properties is well-documented.”

It is only 3 buildings right now. None of these are the "big" ones - 25 Columbia Heights, 117 Adams, 90 Sands or the factory buildings on Prospect St., but who knows.

I know they bougha lot of property in Warwick, NY. This was an interesting article about it from 2010.

relocating HQ

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