BROOKLYN HEIGHTS, NY—A multifamily building at 50 Orange Street, located on the southeast corner of Orange and Hicks Streets in Brooklyn Heights, was sold in an all cash transaction valued at $7,100,000. The property has been owned by The Watchtower Bible and Tract Society of New York, Inc. for over 20 years.
The Watchtower Bible and Tract Society of New York, Inc. is a non-stock, not-for-profit legal entity used by Jehovah's Witnesses from their headquarters in Brooklyn Heights. The corporation is a major publisher of religious publications, including books, tracts, magazines, and Bibles.
Located in the heart of Brooklyn Heights 50 Orange Street is a five-story elevatored apartment building containing a total of 20 residential units. Of the 20 units, 10 are studios and 10 are onebedroom units. The building is approximately 15,355 gross square feet including the cellar and was delivered vacant, which is rare for this size building and location.
In 2006, a renovation of the property was completed including the installation of a new elevator and central heating and air-conditioning system. The property also features views of the Manhattan skyline, harbor, and bridges from the upper floors.