Watchtower Headquarters Complex Eyed By Major Office Developers

By on February 16, 2016 1:12 pm in Brooklyn Heights, Commercial Real Estate, News, Real Estate

Despite the assertion, which we noted earlier, by David Lombino of Two Trees, that “There is only one possible use” of the Watchtower headquarters buildings (photo), “and that’s luxury condominiums”, The Real Deal, citing BloombergBusiness, notes that major Manhattan office developers have expressed interest in the property. Among those are Vornado Realty Trust and Silverstein Properties LLC. Others showing interest include L&L Holding Co. and Taconic Investment Partners, described by Bloomberg as “both pioneering developers in Manhattan’s technology-heavy midtown south office district”. Bloomberg also quotes Ofer Cohen, president of a Brooklyn based firm specializing in commercial properties, TerraCRG, as saying, “Every Manhattan office player is going to bid on this asset.”

Photo: Joe Mabel, Wikimedia Commons.

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  • Roberto Gautier

    Many might not think that we need yet another hospital in the area, but the JW properties might be a good location for a medical center.

  • Andrew Porter

    That ain’t gonna happen, and you know it. No, the choices are office complex or more high-end rentals or residential condos.

  • William Gilbert

    I think I’d actually prefer an office complex. The people working ther would be a mix and not just rich entitled condo folk and our local schools would not be impacted. Offices mean stores and restaurants would sprout up to feed the workers. I guess I can’t really see a downside.

  • http://www.youtube.com/watch?v=UlsiLOnWCoI Arch Stanton

    what-bout zoning?

  • Andrew Porter

    Zoning? Huh? The complex next to PierHouse is already the JW’s offices, and PierHouse is apartments and a hotel. So why would zoning be an issue?

  • http://www.youtube.com/watch?v=UlsiLOnWCoI Arch Stanton

    Because those buildings are most likely zoned for manufacturing, offices are okay but residential use would require a zoning change.

  • CHatter

    Also, perfect for a bring-your-dog-to-work tech company, with Hillside right across the street.

  • gc

    So, who is responsible for rezoning? Do any of our elected representatives have any say in this matter? We definitely don’t need anymore luxury condos!

  • SongBirdNYC

    A rep at the Comptrollers Office confirmed the zoning for me. She also directed me to http://maps.nyc.gov/doitt/nycitymap/ Put the address in and you can determine the zoning for any address. The Watchtower buildings at 25-30 Columbia Heights are zoned for M2-1 which is currently commercial. Here’s the page that explains M2-1 zoning. http://www.nyc.gov/html/dcp/html/zone/zh_m2.shtml If a residential developer wants to put in residential units they would have to go through Community Board 2 to rezone.

  • Jeffrey Smith

    Well, considering the wonderfully high minded academics on the community board just got through rubber stamping the abuses of
    BBP right on our doorstep, you can see the levels of safeguards the Heights can expect against misuse of rezoning

    The CB2 isn’t a firewall against abuses, its an accelerant of RE sector
    abuses…