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Deals & Dealmakers

Kushner JV planning 737-unit tower at former Jehovah’s Witnesses site

A joint venture between Kushner Companies, CIM Group and LIVWRK have filed plans to build a 21-story, 737-unit mixed-use tower at a former Jehovah’s Witnesses property in Brooklyn.

The site, located at 85 Jay Street in Dumbo, changed hands last December for $345 million. The property was previously used as a parking lot. It was one of two properties that Kushner, CIM and LIVWRK bought from Watchtower Real Estate. In August of last year, the firms acquired the Watchtower office building for $340 million. The Jehovah’s Witnesses first put 85 Jay Street on the market in 2015. The religious organization sold its properties, including its world headquarters, as part of a planned move to relocate from Brooklyn to Warwick, New York.

According to a permit application filed with the Department of Buildings, Kushner, CIM and LIVWRK are looking to build a 874,149 s/f tower on a 134,988 s/f lot. If approved as proposed, the building would be 250 feet tall.  The filing was first reported by the Real Deal.

Plans call for 812,978 s/f of residential space, 60,017 s/f of commercial space and 1,154 s/f of community facility space. The property will contain condos and rental units, with rental and condo residents having separate lobbies and swimming pools. It will also have retail spaces on the ground floor and the mezzanine. Planned amenities include valet and parking spaces for 712 cars, a library, a lounge room, a game room, a screening room and an outdoor lounge.

Kushner and LIVWRK, along with RFR Realty, also own a five-building Brooklyn portfolio from Watchtower. The joint venture acquired the package for $375 million in 2013. Tenants in the property include e-commerce website Etsy and co-working firm WeWork.

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