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10-21-2011, 01:09 PM #1
Jehovah's Witnesses' land sell-off has Brooklyn dreaming big
Hallelujah! Jehovah's Witnesses' land sell-off has Brooklyn dreaming big
New building occupants could transform surrounding neighborhoods of Brooklyn Heights, Dumbo.
By Amanda Fung @amandafung
October 16, 2011 5:59 a.m.
Behold: The day of the biggest real estate sale to hit Brooklyn in decades is nearing and a swelling crowd of potential beneficiaries is salivating. At stake are 34 mint-condition properties in Brooklyn Heights and Dumbo that the Jehovah's Witnesses spent decades accumulating and now are considering selling as they ponder a headquarters move upstate. All told, the portfolio spans 3.2 million square feet—more than the entire Empire State Building—and is worth well over $1 billion.
“There is great potential here to transform the surrounding neighborhoods,â€NO AMNESTY
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