Brooklyn, NY – The Brooklyn waterfront Watchtower property owned by a missionary group has been sold to a group that includes Donald Trump’s son in law, Jared Kushner for $700 million.
The property, which is located just off the Brooklyn Queens Expressway and in the shadow of the Brooklyn Bridge, includes the 733,000 square foot world headquarters for the Witnesses as well as a right for development 1.1 million square foot site at 85 Jay Street located half a mile away, as reported by the New York Post.
In addition to Kushner, the buyers include real estate tycoon Aby Rosen of RFR Holdings and LIVWRK, a principal based real estate company that focuses on mixed use urban development.
The group, which bought a large property in Dumbo Heights for $375 million in 2013 from the Witnesses, now leases that space to WeWork, which transforms existing buildings into collaborative workspaces and Etsy, an online marketplace for handmade and curated merchandise.
Brooklyn waterfront properties have recently become hot commodities and several companies are said to have expressed interest in relocating to the Columbia Heights Watchtower building.
The Witnesses plan to relocate their headquarters to Warwick, New York in Orange County.