Watchtower building sold

Crain's New York Business/April 13, 2004

The Jehovah's Witnesses have made a deal to sell their 1 million-square-foot building on the Brooklyn waterfront to RAL Development Services, a residential development company.

The purchase price for the 12-story building, at 360 Furman St., was not disclosed. The religious group's Watchtower Bible and Tract Society had been handling worldwide shipping and distribution of Bibles and religious literature from the facility, but is relocating those operations to other buildings in Brooklyn and upstate New York. It will remain as a tenant in the building for one year.

RAL says it will coordinate development of the building, which was built in 1928, with the city's and state's plans to develop the Brooklyn Bridge Park. Manhattan-based RAL recently converted the former Arthur A, Levitt state office building at 270 Broadway to a residential and commercial use building, with 39 luxury condominiums.

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