Published On: Wed, Sep 6th, 2017

Aby Rosen Pays $135 Million for Former Jehovah’s Witnesses Hotel

Kushner Companies, LIVWRK and Invesco were part of the deal but Kushner Companies exited the 90 Sands st. prior to closing

 

Aby Rosen’s RFR Realty paid $135 million to purchase the 400,000-square-foot Jehovah’s Witnesses’ former residential hotel at 90 Sands Street, property records filed Tuesday show.

The building is part of a six-building portfolio that the Witnesses went into contract to sell to RFR, Kushner Companies, LIVWRK and Invesco for $375 million in 2013, according to The Real Deal.

The group closed on the five other buildings – 117 Adams Street, 175 Pearl Street, 77 Sands Street, 88 Prospect Street and 55 Prospect Street – in 2013 for $240 million.

Kushner, Rosen to Buy Watchtower Building, Jay Street Site for $700 Million: Report

 

Earlier this year, Invesco was bought out of the other properties, and Normandy Real Estate Partners took a majority stake in 175 Pearl Street.

In the meantime, the owners made plans to convert 90 Sands into a 600-room hotel with Ian Schrager. But when it came time to close on 90 Sands, RFR sealed the deal by itself. A spokesperson for the company said RFR is “weighing its options regarding the property” but declined to comment further… [ continue reading at The Real Deal]

 

Kushner, CIM and LIVWRK Close on Watchtower Buy in Dumbo for $340 Million

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