12/13/2015 Yahoo Article about sale of NY property up to 1B$

by Aerodynamic 26 Replies latest watchtower scandals

  • OrphanCrow
    OrphanCrow

    I made a post earlier today that I think is pertinent to this WTS NY property sale.

    I posted it on my long winded "Lorenz Reibling Real Estate" thread and I don't blame anyone for not wanting to wade through that one!

    From that thread, we know that Lorenz Reibling (and his bro Guenther) are owners of Taurus Global Investments and that both are JWs. Extremely wealthy ones.

    So...I hope you don't mind if I paste my post here...it's not that long.

    I found an interesting website.

    http://littlesis.org/

    LittleSis* is a free database of who-knows-who at the heights of business and government.
    * opposite of Big Brother
    We're a grassroots watchdog network connecting the dots between the world's most powerful people and organizations.

    A little bit of poking around turned up this information:

    • I found an interesting website.

      http://littlesis.org/

      LittleSis* is a free database of who-knows-who at the heights of business and government.
      * opposite of Big Brother
      We're a grassroots watchdog network connecting the dots between the world's most powerful people and organizations.

      A little bit of poking around turned up this information:

      http://littlesis.org/org/52635/Taurus_Capital_Partners_LLC

      And that Howard Zemsky is a Managing Partner at Taurus Capital partners LLC.

      http://littlesis.org/relationship/view/id/248745

      A little bit more poking around and I found this article published in August 2015:

      http://www.brooklyneagle.com/articles/2015/8/28/brooklyn-bridge-parks-pier-6-public-comment-deadline-monday

      The deadline for the public to comment to the Empire State Development Corp. (ESD) on the proposed Pier 6 development in Brooklyn Bridge Park is Monday, Aug. 31, at 5 p.m.
      The board of the ESD will have a major decision on their hands. While the city says two high-rise towers at the park’s Atlantic Avenue entrance are financially necessary and provide a spot for affordable housing, opponents – including neighborhood organizations, officials and local residents -- have presented a nearly solid wall of opposition.

      At the end of the article, we find out a little bit more about the Managing Partner of Taurus Capital LLC, a Reibling company.

      Board of Directors of the Empire State Development Corp.
      Howard Zemsky, (Ex Officio Director); Empire State Development, President and CEO; NYS Department of Economic Development, Commissioner

      Ah...I knew there was a connection between a Taurus (Reibling) man being on the Board of Directors for the Empire State Development Corp and why he would be concerned with influencing the developments around the Brooklyn Bridge.

      http://lasvegassun.com/news/2015/dec/13/jehovahs-witnesses-could-get-1-billion-for-nyc-pro/

      Jehovah’s Witnesses could get $1 billion for NYC properties

      The Witnesses' move to the town of Warwick will remove their red neon Watchtower sign from the skyline but free up hundreds of thousands of square feet in the trendy neighborhood at the foot of the Brooklyn Bridge.

      And that, I guess, is how real estate business is done...

    • And just a little bit more about that park development that was such a big concern for Mr. Zemsky - Taurus Capital Partners - Managing Partner:

      http://abcnews.go.com/US/wireStory/jehovahs-witnesses-billion-nyc-properties-35743030

      But both Sica and Reed said that before they leave the Witnesses should follow through on a promise to redevelop a neighborhood park, which they agreed to do in exchange for a zoning change.
      Devine said the Witnesses will fulfill the commitment to build the park "either through our efforts or through the efforts of the new owner. We won't walk away from it."
  • A.proclaimer
    A.proclaimer

    I just posted this on another thread but 1 billion is just considered a conservative estimate, meaning there could be more.

    "The church has not announced an asking price but Tucker Reed, president of the Downtown Brooklyn Partnership, called $1 billion "a conservative estimate" for the Witnesses' real estate portfolio."

  • Finkelstein
    Finkelstein

    It pays to keep in mind the sales of the their billion dollar properties are mortgage free .

    It should also be known that banks look at religions as a risk so it isn't easy to acquire a loan from banks.

    The latest property purchases made by the WTS and the construction on those properties indicate the WTS had a lot of money on hand.

    Cognac would you like to reiterate why you think the WTS would not go into the black upon the sales of these proprieties in Brooklyn. ? Are surmising strictly on emotive theories against the WTS ?

  • Coded Logic
    Coded Logic

    I'm no financial expert, but as I understand it a multi-national corporation that is wishing to expand can burn through a billion dollars fairly quickly.

    Or, to put it another way, of the supposed 2,000 Kingdom Halls the society wants to build a billion dollars would only buy half of them.

  • cognac
    cognac
    Fink - Yes. When the info is done being gathered, there will be a post. Hopefully by the end of the week.
  • Finkelstein
    Finkelstein

    Is the WTS wagering upon the accumulation of real estate investments as the answer to economic sustainability ?

  • cognac
    cognac

    Fink- There's been a lot of backlash with their construction initiatives.

    But if they are wagering their real estate investments as the answer to their economic sustainability, maybe in the past, I wouldn't think now they are.

  • Finkelstein
    Finkelstein

    It appears to me that the WTS came into the focused realization how profitable real estate investing can be particularity when it sold quite a few of its branches around the world including what it had sold previously in Brooklyn NY.

    Now they have arranged a renovation fund established to all congregations at least to the ones in North America under the guise that the organization supposedly needs to build more Kingdom Halls and so on.

  • cognac
    cognac

    Fink - I completely agree.

  • DATA-DOG
    DATA-DOG

    1 Billion ain't much in the real world, Donald Trump lost that much and got it back. The WTBTS has property that's worth some cash, but there is a problem... You need to sit on your real estate, because as Lex Luthor's dad said, " Land is the one thing they aren't making any more of."

    When you have to sell, you have a problem. The WTBTS is hoping that there is a God, and that he will protect them as they retreat to their toxic dump in Wallkill. LOL!! Desperation looms as the GB 2.0 burn in the fires of time!! ( Damn, that sounds good! I should be a writer! 😁)

    DD

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