Watchtower Divestment Continues: The Bossert on the Block
After putting six of its Brooklyn Heights properties on the market last spring, the Watchtower Group announced yesterday that it would also be selling one of its crown jewels in the area, the Bossert at 98 Montague Street. In its typical fashion, the religious organization didn’t set an asking price for the 14-story former hotel….
After putting six of its Brooklyn Heights properties on the market last spring, the Watchtower Group announced yesterday that it would also be selling one of its crown jewels in the area, the Bossert at 98 Montague Street. In its typical fashion, the religious organization didn’t set an asking price for the 14-story former hotel. Instead, it’s issuing a Request for Best Offer. Known as the “Waldorf Astoria of Brooklyn” in its day, the 200,000-square-foot building is currently divided into 224 apartments. Predictions for the sales price?
Good Lord! Watchtower Divesting Six Heights Props [Brownstoner] GMAP
Religion aside, these folks were way ahead of the curve as real estate investors. Kudos to the Watchtower Gang for buying into these hoods long before it was cool to do so.
What I want to know is where are headed with their real estate investments now.
This building will sell very quickly.
100-120 million
When are they going to divest the monstrosity and eyesores in DUMBO? Those buildings are hideous. Someone should let them know that they can makes billions from that property.
My sister used to live in the Bossert, beautiful building! Although many of the units are very small with no kitchens. At least 150mil. A single brownstone near this location can go for 8mil.
$40 million
Wow. Gorgeous building. I always wondered about it when I walked by.
Let’s think about this on the most basic and crude of levels, there’s 224 apartments. At $16 million that puts each apartment at $71,000. Hmmm.
Not gonna sell unless they change that carpet.
14-16 million is my guess…