I am floored at the fact that the WTBTS even own something like this - known as the "Waldorf Astoria" of Brooklyn. They've been amassing their worldly treasures just like the Catholic religion.
This Hotel was worth $100,000.000 in 2008. When they bought it, it needed restoration and they replaced the marble from the original quarry.
I think this is the article you mean.
http://www.nytimes.com/2011/11/05/nyregion/free-lodging-in-elegance-but-just-for-a-select-group.html
The hotel lobby buzzes like any other in New York on a weekday morning, as families from around the world excitedly examine maps, while bellhops in khaki pants and polo shirts give directions and load luggage carts.
The Bossert Hotel has breathtaking views of the Lower Manhattan skyline.
But this hotel lobby is different. And not just because of its five glittering chandeliers or the pair of three-story marblelike columns that trumpet an earlier age.
Nobody pays a bill at the front desk.
In a city of $400-a-night hotel rooms, the Bossert Hotel, on Montague Street in Brooklyn Heights, may be the best deal. Provided the guest is a Jehovah’s Witness.
Members in good standing of this religious group — those who have gone door to door proselytizing or have completed international missionary work — are eligible for up to three nights of accommodations free of charge, three meals included, at a former high-society hot spot.
“I can’t even believe it,” said Lori Jacobson, 47, from Simi Valley, Calif., looking up at the chandeliers on her first trip to New York with her sons, 12 and 14. Her husband, Marc, was getting information for a Big Apple Bus tour.
The Jacobsons submitted an application a month ago to their local congregation, which everyone who wants to be a guest must do. Without the Bossert, Ms. Jacobson said, “we would have never been able to do this with a family.”
Once considered the “Waldorf-Astoria of Brooklyn,” the 12-story classical-style hotel built in 1909 by Louis Bossert, a lumber magnate, has a history that dovetails with the Jehovah’s Witnesses’ own history in the area since that same year.
Today, many members come to tour the group’s world headquarters, near the Brooklyn Bridge. The hotel is one of the 34 properties that the group’s business division — the Watchtower Bible and Tract Society of New York — owns and meticulously maintains in Dumbo and in Brooklyn Heights. The network of offices, parking lots and residences is worth an estimated $1 billion, according to local real estate brokers.
The Watchtower clock and sign adjacent to the Brooklyn Bridge may be more recognizable than the Bossert, but the hotel — easy to walk past on a busy shopping street — is a more subtle symbol of the modest, close-knit religious group and its future in a brownstone bastion.
After more than a century, the Jehovah’s Witnesses are likely to be headed out of Brooklyn, having bought a 253-acre plot for a new headquarters in Warwick, N.Y., in Orange County, about 50 miles north of New York City. They have already moved their printing operations to Wallkill, N.Y., farther north than Warwick, (where 10,000 Bibles are produced a day) and their educational center to Patterson, N.Y., about 65 miles north and west of the city. The Witnesses are proceeding through Warwick’s land-use process to build a seven-building complex, and approval could come as early as next spring.
In preparation, the Witnesses are selling eight properties in Brooklyn Heights, including carriage houses and small apartment buildings. A deal to turn the Bossert into dormitory housing and then condominiums — with R.A.L. Companies, which had bought another large Witness property and turned it into condominiums, One Brooklyn Bridge Park — fell through in 2008.
“We are not actively marketing the property right now,” said Richard Devine, the chief spokesman for the Jehovah’s Witnesses.
The group took over the building in a state of disrepair in 1983, renovated it in 1988, and in summer 2010, turned it into a 224-room hotel. Five residents who lived there before 1983 remain in their apartments, Mr. Devine said.
“We’re just extras,” said one of them, Monica Grier, 83, laughing.
Ms. Grier, originally from England, moved into the two-bedroom apartment on the 11th floor with her husband, George, in 1956. She is grateful for the infusion of polite activity, recalling the female screams she heard when part of the building was a seedy single-room occupancy hotel. Until last summer, the hallways were mostly silent except during the Witnesses’ special events.
“You came up at night and it was spooky,” Ms. Grier said.
When her husband died in 1988, she decided to stay. She first paid $300 in rent; now she pays $800. She said staff members treated her well and had not tried to proselytize to her.