When The Watchtower Group announced that it was selling one of its marquee Brooklyn Heights properties, The Bossert Hotel at 98 Montague Street, back in January, the big question quickly became whether they’d clear the $100 million mark. Well, from what we’re hearing, they have: According to a tipster who tends to know these things, Robert A. Levine, the same developer behind One Brooklyn Bridge Park (a Brownstoner advertiser), has locked up the deal for “north of $100 million.” Given that the 224-unit building has 200,000 square feet of space that could easily fetch $1,000 a foot post-renovation, it doesn’t seem like such a crazy price to us. Reached through his publicist, Levine had “no comment” on the deal (as opposed to a denial) and the Watchtower broker did not return our phone message before posting time.
Update: We’re now hearing through another source that the price was $90 million and that RAL plans to turn it into student housing, at least in the near-to-medium term.
Watchtower Divestment Continues: The Bossert on the Block [Brownstoner] GMAP
A bit of old-fashioned fun is racing down Park Slope’s 17th Street this Saturday at the seventh-annual Soap Box Derby….
Here’s an updated look at the most important thing to happen in Brooklyn since Henry Hudson landed at Coney Island….
The condo at hand is a two-bedroom number in a five-year-old, three-unit building at 481 18th Street in the South…
Investor Joseph Brunner closed Tuesday on an $18,000,000 deal in Greenpoint, The Real Deal reported. The seven-building development site includes…
Along with artisanal beer and chocolate, Brooklyn has become an epicenter of small-batch furniture making. Design studios and woodworkers are…