The Watchtower Sells More of Its Buildings (page 2)

XBEHERE

I started a thread on this a while ago. Couldnt give away which buildings they were to protect my source. Seems as though he was correct.

http://www.jehovahs-witness.com/11/109130/1.ashx

Richard Devine, who is in charge of Building Maintenance and Construction for Watchtower. This guy was my old table head I'm surprised they moved him out of printing to be in charge of building maintenance.

jstalin

I don't suppose they'd be too cash strapped if they're planning on building a four tower complex.

blondie

What makes you think you need all the cash up front to build...?

LDH

XB I remember that post. I'd say you have a reliable source.

LDH

As with the sale of its former waterfront shipping complex at 360 Furman St. (currently undergoing conversion to condominiums and mixed-use), the religious organization is not listing these buildings with realtors, nor is it setting asking prices.
“We are going to let the market determine the price,” Devine said. “We anticipate it will be a private sale between principals, as it was with 360 Furman.”

This is a handy way not to rile up too many Brooklyn neighbors who hate the fact that a printing business isn't paying any tax money on property value.

It also makes them come across as pious and not greedy. Short translation:We'll take every penny we can get.

I wonder if the society would 'discount' the building if an operation such as "Feed the Children" or "The Heifer Project" (non-profits that actually DO something) wanted to buy the building.

anewme

It will be an auction for the highest bidder. When property is very valuable and location everything even the oldest dillapidated building is worth alot. Whatever the market will bear is saying FOR BEST OFFER = best offer OVER what the stated value is.

With NY such a target these days perhaps they are thinking the neighborhood may devalue in the years ahead and now is a good time to cash in and get out before it is too hard to operate from there.

MikeMusto

there is no way the watchtower would sell those building for only 2 or 3 million.. anyone who know the heights now knows that brownstones alone are going for 2 or 3 million alone they better sell fast.cuz the real estate market is dropping like a chelsea boys pants at the roxy on a sat night

NewYork44M

I am not sure where they got those prices from. A two bedroom one bath apartment iin Brooklyn Heights will tyipcally go for $700-750K.

kittyeatzjdubs

Hell...I say we pool all our funds together, buy the thing ourselves and make an official JWD headquarters.

That would be so awesome....selling Jehoovers main digs to a bunch of evil apostanators.

luv, jojo

The Watchtower Sells More of Its Buildings