Clipper to buy BK rental from Jehovah’s Witnesses for $88M

In its first move as a publicly traded company, Clipper Realty is buying an 11-story Brooklyn Heights rental building from the Jehovah’s Witnesses for $87.5 million, the firm told The Real Deal.

The David Bistricer-led real estate investment trust entered into an agreement to buy 107 Columbia Heights for $569 per square foot. The Witnesses put the 154,000-square-foot building on the market in April. At the time, sources speculated it could fetch up to $1,000 per foot.

https://therealdeal.com/2017/02/14/clipper-to-buy-bk-rental-from-jehovahs-witnesses-for-88m/