The Jehovah’s Witnesses have listed a triangular lot near the foot of the Brooklyn Bridge, the group’s last development site in Dumbo. The property at 30 Front Street, or 1 York Street, could accommodate a 14-story mixed-use building, according to Brownstoner, who first spotted the listing.
The irregular-shaped site is currently being used as a parking lot and measures over 52,000 square feet. It has about 250,000 square feet of development rights in total. Its price has not been disclosed.
The Witnesses have been on a selling spree since 2011 preparing to relocate their headquarters to Warwick, New York. In the past year alone the group has sold off an an 11-story rental building for $87.5 million and two Columbia Heights buildings for a combined $76 million. The Jehovah’s Witnesses real estate holdings in the area have an estimated value north of $1 billion.
In August 2016, the Jehovah Witnesses sold their iconic Watchtower building at 25-30 Columbia Heights for $340 million to developers CIM Group, Kushner Companies, and LIVWRK. Brooklyn-based development firm Rabsky Group reportedly shelled out $65 million for the 41,150-square-foot recreational facility at 69 Adams Street in Dumbo last December.
Kushner Companies also purchased the massive, long-undeveloped site at 85 Jay Street in Dumbo for $345 million. This week the developer filed plans with the Department of Buildings for the site in partnership with CIM Group and LIVWRK. According to public records, the 21-story, 874,149-square-foot property will give way to 737 apartments and 60,017 square feet of commercial space. The architect of record for the project is Morris Adjmi.
To see more documents/articles regarding this group/organization/subject click here.