Silverstein And Vornado Among Possible Jehovah's Witnesses Complex Contenders
Four of New York's biggest office landlords—Silverstein Properties, L&L Holding, Vornado and Taconic Properties—are among the top contenders expected to bid on the massive slate of Jehovah's Witnesses-owned properties in Dumbo and Brooklyn Heights.
The bids come on the heels of planned move to Warwick, N¥, where the group is headed after nearly half a century, leaving behind a portfolio that includes its 733k SF Watchtower world HQ at 25-30 Columbia Heights, The Real Deal reports.
Dozens of other firms, including Alloy Development and Megalith Capital Management, are also interested in the portfolio, which could fetch as much as $500M.
Bids for the properties are due Tuesday, but there are also others up for grabs, including a development site at 85 Jay St and a 152k SF residential building at 124 Columbia Heights, for a total price tag of $900M or more. [TRD]