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Buyer outed for Jehovah's Witnesses $65M Dumbo development site

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The building has plenty of buildable potential

Back in May, the Jehovah’s Witnesses listed yet another one of its Dumbo properties as the group relocate its headquarters from Brooklyn to Warwick, NY. The site sold in October to what was, at the time, an undisclosed buyer. But according to The Real Deal, that buyer was actually the Brooklyn-based development firm Rabsky Group, owned by Simon Dushinsky.

Dushinsky reportedly shelled out $65 million for the 41,150-square-foot recreational facility at 69 Adams Street. That may seem like a lot for such a small building, but it has plenty of potential: the property is an as-of-right site and zoning rules allow for a mixed-use tower with up to 157,410 buildable square feet.

Though plans haven’t been filed for the building yet, there is a possibility that the site could become home to a residential tower, given Dushinsky’s residential-heavy portfolio.

Including this sale, the Jehovah’s Witnesses have unloaded more than $1.3 billion worth of property throughout Brooklyn, including the iconic Watchtower building, which sold this spring for $700 million to a group of developers that includes Aby Rosen and Jared Kushner. (Real estate makes strange bedfellows, apparently .)

Three more of the group’s holdings—a residential building at 107 Columbia Heights, another at 97 Columbia Heights, and a mixed-use building at 74 Adams Street—are still up for grabs.