Watchtower Real Estate -- Brooklyn, New York as of 10/25/06

SOURCE by Alpheta

I've been reading through old posts under "Friends" (part of my program to get familiar with you all) - am now up to 1515 or about. There were a number of posts about the sale of some property owned by WTBTS in New York - specifically, in Brooklyn, in some 2002 posts (sorry, did not write down the numbers). Anyway, this afternoon I had a few moments of spare time on my hands at the office and so I spent a little time doing a quickly search for real estate owned by WTBTS in Brooklyn. I'm curious mainly because I'm wondering what assets WT has available to liquidate to fund their retreat from New York City (first of all) and to fund possible future judgments against them from the various pending law suits (second of all). What follows, I hope, is my first table showing what I found:

List of Properties Brooklyn Heights Subd. NY

Research as of 10/25/06

Information for this table primarily compiled from USPDR.com and a little info ACRIS.nyc.gov

Notes:

  1. Brooklyn Burrough is number 3 in NYC
  2. (R?) means property possibly razed
  3. (??) means year of sale not known
  4. (?) means not know if Watchtower was Buyer (B) or Seller (S)
  5. (???) means number address of property not listed
 

Address

 

 

Burrough/Block/Lot

 

 

(Yr.) Assessed Value

 

 

(Yr.) Sale Price

 

       
 

BROOKLYN:

 

     
 

50 Orange Street

 

 

3 226 8

 

 

(99) 142,200

 

 
 

??? Columbia Heights

 

 

3 208 12

 

 

(99) (44,370)(R?)

 

 
 

??? Front Street

 

 

3 54 19

 

 

(99) (113,850)(R?)

 

 

(??) 5,145,500 (?)

 

 

??? Front Street

 

 

3 54 22

 

 

(99) (382,050)(R?)

 

 

(??) 5,146,000 (?)

 

 

??? Jay Street

 

 

3 54 1

 

 

(99) (1,318,500)(R?)

 

 

(??) 3,000,000 (?)

 

 

??? Front Street

 

 

3 41 44

 

 

(99) (46,350)(R?)

 

 

(??) 5,145,480 (?)

 

 

8 Clark Street

 

 

3 234 39

 

 

(99) 448,650

 

 
 

61 Adams Street

 

 

3 52 4

 

 

(99) 1,665,000

 

 

(91) 2,359,500 (B)

 

 

67 Livingston Street

 

 

3 265 5

 

 

(99) 1,064,700

 

 
 

67 Remsen Street

 

 

3 248 14

 

 

(99) 153,900

 

 
 

76 Willow Street

 

 

3 224 20

 

 

(99) 41,600

 

 
 

79 Willow Street

 

 

3 230 1

 

 

(99) 9,238,500

 

 
 

80 Willow Street

 

 

3 229 21

 

 

(99) 162,540

 

 
 

86 Montague Street

 

 

3 246 15

 

 

(99) 7,087,950

 

 
 

89 Hicks Street

 

 

3 226 4

 

 

(99) 359,730

 

 
 

90 Sands Street

 

 

3 87 9

 

 

(99) 17,759,250

 

 
 

97 Columbia Heights

 

 

3 219 1

 

 

(99) 2,907,900

 

 
 

105 Willow Street

 

 

3 235 37

 

 

(99) 66,624

 

 
 

107 Adams Street

 

 

3 63 1

 

 

(99) 2,254,500

 

 
 

108 Joralemon Street

 

 

3 262 34

 

 

(99) 161,550

 

 
 

161 Columbia Heights

 

 

3 234 29

 

 

(99) 193,500

 

 
 

169 Columbia Heights

 

 

3 234 24

 

 

(99) 2,418,300

 

 
 

175 Pearl Street

 

 

3 87 5

 

 

(99) 1,907,100

 

 
 

177 Front Street

 

 

3 41 42

 

 

(99) 88,740

 

 

(96) 280,000 (B)

 

 

183 Columbia Heights

 

 

3 234 17

 

 

(99) 447,120

 

 
 

200 Water Street

 

 

3 41 13

 

 

(99) 377,100

 

 

(95) 925,000 (B)

 

 

360 Furman Street

 

 

3 245 12

 

 

(99) 13,752,000

 

 

(83) ??? (B)

 

 

105 Willow Street

 

 

3 235 37

 

 

(99) 66,624

 

 
       
       
 

11492 227 Street (Queens Village), Brooklyn, NY

 

 

11270 82

 

 

(99) 12,000

 

 

(93) By Will to (B)

 

 

For Parcel in Brooklyn Burrough (Section 3), Block 245, Lot 12 (which is 360 Furman Street):

A Modification of Mortgage recorded 3/17/83 indicates original mortgage amount is $3,948,513.22; $1,000,000 paid on the balance; also references a "First Mortgage" with Dime Savings Bank but does not indicate the amount of the first mortgage, so I do not know what the original purchase price was. ACRIS records did not reveal the mortgage to Dime Savings Bank.

Okay, there's a lot of INFO here to digest. Would appreciate some help with analysis and perhaps tracking down further info. I'm trying to get a handle JUST ON REAL ESTATE OWNED BY WT in and around New York City and an estimate of Fair Market Value.

Please note a couple of things: first, there were a couple of posts at least (again, I did not write their numbers down) that indicated that 360 Furman Street had been sold - some reports said for $20,000,000, I recall one report saying $200,000,000. Wow! Maybe that was an error? I'll see if I can find further information but would appreciate help here. Secondly, there was a post I recall reading from November or December, 2002 that said the Stanley Theatre (don't know location) had been sold for - don't quote me here - $30,000,000. I do not know if that property may be included in the table above.

Depending upon what you crackerjack sleuths out there can uncover based on what I've found thus far, I hope to generate further tables - or maybe you'll take pity on me and generate them yourselves (as you see from the above, I'm not so swift working with Tables, etc.).

Alpheta (looking for A$$ets)


 


back to History