Kushner JV planning 737-unit tower at former Jehovah’s Witnesses site

Kushner JV planning 737-unit tower at former Jehovah’s Witnesses site

A joint venture between Kushner Companies, CIM Group and LIVWRK have filed plans to build a 21-story, 737-unit mixed-use tower at a former Jehovah’s Witnesses property in Brooklyn.

The site, located at 85 Jay Street in Dumbo, changed hands last December for $345 million. The property was previously used as a parking lot. It was one of two properties that Kushner, CIM and LIVWRK bought from Watchtower Real Estate. In August of last year, the firms acquired the Watchtower office building for $340 million. The Jehovah’s Witnesses first put 85 Jay Street on the market in 2015. The religious organization sold its properties, including its world headquarters, as part of a planned move to relocate from Brooklyn to Warwick, New York.

http://rew-online.com/2017/08/29/kushner-jv-planning-737-unit-tower-at-former-jehovahs-witnesses-site/

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