Watchtower Sells Orange Street Building for $7.1 Million

The Watchtower Bible and Tract Society, the Jehovah’s Witnesses to its friends, has sold 50 Orange Street for $7.1 million. It and two Columbia Heights properties were put on the block in August:

Crain’s: The first of several properties in Brooklyn Heights that were recently put on the market by the Jehovah’s Witnesses has been sold. The price paid was $7.1 million, slightly under its asking price, according to Massey Knakal Realty Services, the brokerage that was retained to sell three of the Witnesses’ buildings valued at a total of $18.45 million in the neighborhood.
The five-story, 20-unit elevator building at 50 Orange St. was sold in an all cash deal, said Robert Knakal, chairman of the brokerage. The sale closed on Dec. 13. The Jehovah Witnesses’ business arm, the nonprofit Watchtower Bible and Tract Society of New York, bought the property for an undisclosed sum in 1988 and used it as a residence for the members of its religious order. Last year, the group, which is thinking about moving its headquarters upstate, decided to sell the property along with seven other buildings, ranging from a carriage house to a seven-story apartment building.
The new owner of 50 Orange St. was not disclosed. A spokesman for Jehovah’s Witnesses confirmed the sale, but referred further comment to Mr. Knakal.

Share this Story:
  • chris

    Are the JV’s moving their people OUT of the properties they’re selling?

  • AEB

    What!? One can barely get a loft bed for that in Manhat’s more in-demand precincts. And the building is quite handsome–with apartments equally so, one imagines..

  • DTrent

    To Chris: Yes, everyone will be out & living upstate.

  • Hello Brooklyn

    I was wondering if 50 Orange had sold. I’ve been hearing construction in the first floor apartments when walking by and have seen materials going in and out. Anyone know who’s listing the apartments? For rent or for sale?