Jehovah's Witnesses To Get $60M For Latest Dumbo Sale
The Jehovah's Witnesses' sell-off in Brooklyn continues apace, this time with a property in Dumbo.
All that sits at 74 Adams St. right now is a wide, one-story parking garage, but the parcel is zoned for 200K SF of retail and residential space and is under contract to be sold to developer Jeffrey Gershon, The Real Deal reports.
Due to the deal not being officially closed, Gershon and his company, Hope Street Capital, would not comment on his plans for the property, but with a sale price at nearly $60M, it is a safe bet that he does not plan to keep it as a parking structure.
Jehovah's Witnesses' exit from Brooklyn is all but complete now, after recent sale of its headquarters to a group led by Kushner Cos., as well as sales of several other properties elsewhere in the borough, concentrated around Brooklyn Heights and Dumbo.
