The expected sale of the former Standish Arms Hotel in Brooklyn Heights has happened. The building has been a residence for the Watchtower Bible & Tract Society since 1981. The $50 million sale was reported yesterday by the Brooklyn Daily Eagle and today's Post fills in the details about the upcoming post-Jehovah phase. The 12-story hotel hotel is being turned into 100 rental units by Taurus Investment Holdings, a big Boston real-estate firm. Studios in the renovated building will start at $2,000 with 2BRs starting at $3,600. The target market is "young professionals and couples with families." The Standish is a 12-story Beaux-Arts building built in 1903. Brooklyn Heights real estate has turned into a lucrative side business for Watchtower, as they put 6 of their 18 Heights properties on the market this year. Five are still available. NYU and Brooklyn Law School previously scored two other Watchtower buildings that were on the market.
· 'Jehovah' Hits Rental Height$ [NYP]
· Former Brooklyn Heights Hotel Sold by Watchtower [BDE]
[Photo via Property Shark]