Witnesses Unload Dumbo Commercial Properties to Kushner/Rosen JV for $375 Million

Hold onto your hats because this is the biggest Brooklyn real estate news of the year: The Jehovah’s Witnesses have taken the next step in their Brooklyn divestment plan, striking a deal to sell a six-building portfolio to a joint venture that includes the Kushner Companies, RFR Holdings and LIVWRK, a new company from ex-Two Trees exec Asher Abehsera. In addition to the 30-story hotel property at 90 Sands Street, the group of buildings includes 175 Pearl Street, 55 Prospect Street, 81 Prospect Street, 77 Sands Street and 117 Adams Street for a total of 1.25 million square feet. According to the New York Post, which broke the story, the deal was signed on Friday.