Jehovah’s Witnesses puts East Village property up for grabs

by betterdaze 1 Replies latest social current

  • betterdaze
    betterdaze
    Jehovah’s Witnesses puts EV property up for grabs

    May 30, 2012 04:00PM

    67 Avenue C (credit: PropertyShark)

    In the Jehovah’s Witnesses’ latest move to prepare for an upstate relocation, the group has put another piece of property on the market, but not in Brooklyn. This time it’s seeking a buyer for an East Village property.

    Crain’s reported Jehovah’s Witnesses is selling Kingdom Hall, a worship space located at 67 Avenue C at 5th Street. So far there’s no asking price for the 3,050-square-foot, two-story building, which sits on land zoned for 10,000 square feet of residential development. Massey Knakal Realty Services, which previously handled several sales of Jehovah’s Witnesses properties in Brooklyn, was tapped to market the East Village property as well. Massey Knakal Chairman Robert Knakal told Crain’s that he believes this is the first Kingdom Hall for sale in the city — there are nine others like it around Manhattan.

    Most of the group’s property is concentrated in Brooklyn Heights. As previously reported, a Jehovah’s Witnesses-owned property at 161 Columbia Heights in Brooklyn Heights sold in early March and promptly went back on the market as a rental. Most recently, developer and landlord David Bistricer filed plans to convert the Jehovah’s Witnesses’ Bossert Hotel back into a hotel again. [Crain's]

  • betterdaze
    betterdaze

    I've been following some of the Kingdom Halls in other Manhattan neighborhoods for awhile now, one in particular was up for sale through Massey Knakal four years ago.

    Suffice it to say for now, the value is not in the buildings themselves, but in the air rights/transfer development rights.

    Hope to post more about it after the weekend.

    ~Sue

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