I think the problem with these buildings are that they are cash-pits. They require maintenance, upkeep. Even with volunteer work, supplies for maintenance and utilities still have to be paid. Better to liquidate than to continue pouring money in on something with diminishing returns.
Another building sold for $ 6.6M
by TJ Curioso 14 Replies latest watchtower scandals
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Sic Semper Tyrannis
Yep, it makes little sense to be selling prime real estate right in the middle of a mortgage crisis. It's not like these properties are in some boom-and-bust cookie cutter suburb outside of Vegas. They are smack dab on the waterfront facing downtown Manhattan. It would have made more sense to try and wait this one out and try for a better deal in a few years. Properties like the ones they have in Brooklyn will always maintain their value. There's something else to this. If one of us could only be in the WT accounting office close to a copy machine right about now.
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factfinder
The Stanley theatre is still being used as an Assembly Hall.
It is not being sold.
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wha happened?
Nice to see where my donations went
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Kojack57
When I was in the BORG I rarely donated. I was a tight mofo. Thank God my money was not wasted on those asses.
Kojack