As expected, a fourth Brooklyn Heights residential property on the market by the Watchtower Bible & Tract Society has sold. BHB reported in late March that 183 Columbia Heights, then asking $7.1 million, was close to contract after attracting 27 offers, according to the building’s listing agent Massey Knakal Realty Services.
The Real Deal reported Monday that an unidentified investor group has purchased the vacant 183 Columbia Heights between Clark and Pierrepoint streets for $6.6 million, 14% below the asking price. The group plans to turn the seven-story, 13-unit building, into luxury rentals.
The Witnesses have owned 183 Columbia Heights since 1986, according to public records, as noted by Crain’s New York Business. The property features 10-foot ceilings, a bike room and laundry room. David Mitchell, a managing member of the group, said they will invest an undisclosed amount of money into work in the building, before leasing begins this summer.
“Our clients were very pleased with the results,” Massey Knakal Chairman Bob Knakal told Crain’s. The firm has marketed three Jehovah’s Witnesses properties: 161 Columbia Heights, which Sugar Hill Capital Partners purchased for $3 million earlier this year; and
50 Orange Street, which sold for $7.1 million in January.