End of the Loving Time

Some of it is true

Selling off Assets

http://www.crainsnewyork.com/apps/pbcs.dll/article?AID=/20080505/FREE/215086780/1059/toc

Bklyn’s once famous Bossert sells for $100M

May 05. 2008 3:43PMBy:  Kira Bindrim

Brooklyn Heights’ famed Bossert Hotel, on the auction block since January, has reportedly snagged a buyer.

Robert Levine, the same developer behind One Brooklyn Bridge Park, has reportedly made a deal to buy the Bossert for upwards of $100 million, according to real estate blog Brownstoner. That answers questions of whether a softening real estate market might keep the famed building from commanding a price tag over $100 million.

The 224-unit building at 98 Montague Street has 20,000 square feet of space. With some renovation, the Bossert could make up to $1,000 per square foot, according to Brownstoner.

The Bossert was one of seven major Brooklyn Heights properties put on the market by The Watchtower Group in January. The organization did not provide an asking price, but gave a “request for best offer” to interested parties.

The Bossert has been making headlines for years—but most recently has had a more humble role as the newest stop on the Brooklyn Heights Association’s neighborhood tour. In 1955, the Brooklyn Dodgers celebrated their lone World Series win there, and author Francis Morrone called the building the “Waldorf-Astoria of Brooklyn” in his An Architectural Guidebook to Brooklyn. The space was once famous for its Marine Roof, a two-level rooftop restaurant with a nautical theme and impressive view of lower Manhattan.

In 1983 the Watchtower Bible and Tract Society of New York began leasing the space, and bought it outright in 1988. Watchtower, a Jehovah’s witness organization, undertook a massive renovation and restoration of the building to comply with Landmarks Preservation Commission standards for the historic district.

Since then, the Jehovah’s witnesses have transferred their printing and shipping operations to a new location and consolidated Brooklyn operations, leaving diminished need for the residential space.

May 8, 2008 Posted by Admin Staff | Christianity, Jehovahs Witnesses, Money matters | | No Comments

Taxes Not Paid by Witnesses Cost City $10 Million a Year

 

Brooklyn Heights Press & Cobble Hills News/June 1, 1995
By Werner Cohn

A Sociologist Finds Inconsistencies In Watchtower Practice and Beliefs

The grand old Bossert hotel on the corner of Montague and Hicks Streets, is, as Jehovah’s Witnesses might say, in Brooklyn Heights but not of it. Seen from the outside, which is the only way an ordinary mortal can see it now, the physical hotel exudes the patrician elegance of the most expensive parts of the neighborhood. The woodwork is lovingly waxed, the brass is shiny, everything is perfectly maintained.

But the human goings-on are quite another story. Neatly dressed young men and women, apple-pie American rather than patrician, hover around not only as residents of the hotel but also as its delivery personnel and maintenance crew. Others come from the neighboring Jehovah’s Witness plant on Furman Street to lunch and to dine in the basement communal restaurant This dining hall is the only feature of the interior of today’s Bossert that can sometimes be observed by passers-by, through the basement windows on Hicks Street. The Bossert is no longer a public hotel: it is a private preserve of Jehovah’s Witnesses, also known as the Watchtower Bible and Tract Society, part of the group’s very considerable real estate holdings in Brooklyn Heights.

The Witnesses established their first foothold here in 1909, when Charles Taze Russell, their founder, moved the headquarters from Pennsylvania. But their massive Heights presence began after the Second World War. From time to time there was neighborhood opposition to them, notably when they displaced older residents along Columbia Heights to make room for their ever-expanding dormitories. Opposition was also caused by the rigorous economic self-sufficiency of the Witnesses. Their food is brought in from their own farms, their maintenance is performed by their own craftsmen; they cannot be said to benefit the local economy.

At one time, about twenty years ago, a local florist on Montague Street expressed his displeasure by placing a sign in his shop window:

    The Jehovah's Witnesses ... em-
    bark upon a program of using their
    tax-free millions to swallow up
    building after building until they
    own a major portion of the Heights
    ... and contribute nothing to the
    life of the community except for
    destroying lovely old brownstone
    houses and erecting ugly, modern
    structures.

The map of thirty-six properties listed in the name of the Watchtower Bible & Tract Society in the Heights derives from city records, which I was told may be incomplete. The city estimates the current total market value of the Witness properties that are shown here at over 190 million dollars. A very small proportion of this property is taxed but most of it is wholly exempt because its use is considered to be religious. If all of this property were on the tax rolls, the city would receive an additional $9,427,051 per year. But this figure is based on current assessments, which, in the case of buildings, are generally out of date. For that reason one can estimate that the city loses well over ten million dollars a year as a result of Witness real estate holdings in Brooklyn Heights This sum amounts to an indirect subsidy paid to the Witnesses by the tax payers of the city.

The Witnesses are certainly not alone in receiving such indirect subsidies. All religious, educational, and charitable groups enjoy similar benefits. But the Witnesses are distinctly different from other religious groups because most of their properties are not used for religious purposes in the traditional sense. Unlike churches and synagogues, most of the Witness property is not used for public worship. The bulk of the Witness property in the Heights is used, first, to print Witness literature in the huge “factory” (printing plant), and, second, for the communal housing of about 3,600 young Witnesses who work for no more than their upkeep.

The Witnesses, together with certain other groups, have obtained such gray-area tax exemptions through aggressive litigation Until the Second World War, the courts interpreted the laws providing for religious tax exemption very strictly, and printing plants and dormitories were held taxable But since the war New York State judges have liberalized the law considerably in a series of decisions in which the Witnesses figured very prominently. The result is that the Witnesses today enjoy property exemptions for uses that would have been deemed secular in an earlier age. Many say that the Witnesses benefit from a series of legal loopholes.

There is an irony in this situation. The Witnesses believe “worldly” institutions, especially governments, to be basically evil, though they do teach that governments should generally be obeyed Jehovah’s Witnesses, in matters other than real estate, jealously guard their “separation” from government They will not serve in the armed forces, especially not in case of war, they will not salute the flag or pledge allegiance to the country; they am, in their own view, about the worldly allegiances of the rest of us. In a compendium of their doctrines entitled insight on the Scriptures, they proclaim that “Christians must keep themselves clean and unspotted by [the] world’s corruption and defilement, not entering into friendly relations with it, lest they be condemned with it.” The willingness of the Witnesses to accept indirect government subsidies, through number of legal loopholes, must be judged in the light of these Witness doctrines.

Some former Witnesses have criticized the organization for what they perceive as hypocrisy in the matter of real estate and other worldly possessions. One such critic is the well-known writer Barbara Grizzuti Harrison, who recalls her witness days in her 1978 book Visions of Glory. Another is H. James Penton, a Canadian professor of history and an ex-Witness, who wrote a critical history of the Witnesses in his 1985 volume Apocalypse Delayed. But the most embarrassing accounts from the point of view of the Witnesses, are two books by Ray Franz, a former member of the Witness Governing Body: Crisis 4 Conscience, 1984, and In Search of Christian Freedom, 1991.

But despite such criticism from former members, it is unlikely that the Witnesses will pay voluntarily what is not required of them by law, or that public policy will change to require such payments. After all, many more: millions are lost to the city through tax exemptions of the larger denominations and there are many instances, in the case of the major religions of loopholes similar to those that benefit the Witnesses. It would require a veritable revolution in the political climate before any such exempt properties could ever be brought onto the tax rolls, Nevertheless, we do live in a time in which government cannot find the means for the most basic services, a time in which people go hungry and un-housed and without medical care. Perhaps, who knows? — our politicians will some day come to reconsider their present habit of heaping millions, no questions asked, upon all manner of religion.

Werner Cohn, who lives in Cobble Hill, is professor emeritus of Sociology at the University of British Columbia.

February 13, 2008 Posted by Admin Staff | Christianity, Jehovahs Witnesses, Money matters | | No Comments

The Land ‘Lord’


‘Witnesses’ cash in on Brooklyn

The New York Post/May 14, 2007
By Rich Calder

Jehovah’s Witnesses might be better known for Bibles than buildings, but the religious sect’s vast real-estate portfolio in Brooklyn would make even Donald Trump salivate.

The Watchtower Bible and Tract Society, the Witnesses’ publishing arm, says that while it’s not planning a mass exodus from Brooklyn, it is selling six of its 18 Brooklyn Heights buildings. Those include four on Columbia Heights, the borough’s priciest street, which overlooks New York Harbor and the Manhattan skyline.

Watchtower owns 30 meticulously kept buildings and three lots in affluent Brooklyn Heights and DUMBO worth hundreds of millions of dollars that brokers say are more valuable than ever with ground breaking this summer on the 85-acre Brooklyn Bridge Park project.

The Witnesses say they are not using an outside agent and haven’t set asking prices, but one local broker estimates they can rack up more than $60 million for just the six sites they have announced.

“It’s such a windfall of property,” said J. Jean Austin of Brooklyn Bridge Realty.

Austin estimated that the largest of the six, the 12-story Standish Arms Hotel building at 169 Columbia Heights, could command $35 million alone.

The Witnesses have been a mainstay in Brooklyn Heights since setting up their world headquarters there in 1909. With a need to house its growing membership, the sect began gobbling up properties, both in the Heights and neighboring DUMBO, in the 1980s and early ’90s, when real-estate prices were relatively cheap.

But in 2004, the Witnesses slowly began moving some of their operations north, relocating their Bible- and magazine-printing business upstate to Wallkill. At the same time, the Big Apple’s real-estate market was booming - particularly in Brooklyn Heights and DUMBO.

That year, they sold their former book plant at 360 Furman St. for $205 million - more than 50 times the $3.9 million they paid for the 14-story building in 1983, according to records. The site is being converted into a 449-unit luxury-condo complex within the planned Brooklyn Bridge Park.

The Witnesses also made hefty profits last year selling a 76-unit building on Livingston Street for $18.6 million and a 42-unit building on Hicks Street for $14 million.

“They bought their buildings for their own use, not looking to cash out, at a time when the market was dead and you couldn’t give real estate away in this area,” said Andy Gerringer, managing director of Prudential Douglas Elliman Developments. “I don’t know if it was savvy investing, luck or divine intervention.”

The buildings for sale include the hotel on Columbia Heights, between Clark and Pierrepont Streets, which is being sold in a portfolio with seven- and four-story apartment buildings on the same street.

Three 19th-century properties - a two-story carriage house on Columbia Heights, a four-story brownstone on Willow Street, and a four-story brick house on Willow Street - are being sold separately.

“The Heights has always been a desirable place to live, and Brooklyn Bridge Park will even accent that more,” said Richard Devine, Watchtower’s property manager.

But he added that the timing of the park’s construction “has nothing to do with the sale of the properties.”

February 13, 2008 Posted by Admin Staff | Christianity, Jehovahs Witnesses, Money matters | | No Comments

Watchtower Society declines to return disputed £100,000 legacy

By Emilie Filou, Third Sector, 13 February 2008

The charitable arm of the Jehovah’s Witnesses should return a £100,000 legacy from a man it expelled for trying to convert call girls, one of the man’s relatives has said.

Martin Davis said the Watchtower Society should return the money left to it by his cousin Donald Kennett so it could go to Kennett’s nephew, who is autistic.

Accepting money from a member who had been expelled would damage the charity’s reputation, said Davis, of Dulwich, south London.

Kennett was befriended by a Jehovah’s Witness in the 80s when recovering from a serious car crash and joined shortly afterwards, Davis told Third Sector. He was ‘disfellowshipped’ from his group in Stockport in 2001 after members discovered that he was contacting call girls.

When Kennett’s mother died in 1994, she had left half her estate to him and half to his autistic nephew. Kennett’s own will left all of the resulting £100,000 to the Watchtower Society.

Davis said he acknowledged that the charity had a legal right to the money but argued that it should return it on moral grounds and to prevent damage to the charity’s reputation.

“The society should not wrongfully gain the reputation of putting its financial interests before its moral obligations,” he said. “It expelled Donald as if he were polluted or unclean. It should have refused the money. It’s as simple as that.”

A Charity Commission spokeswoman said it had advised the Watchtower Society that trustees have a legal obligation to use funds for the charity’s cause, but that they can seek permission to make an ex-gratia payment if it is in the best interests of the charity.

“We would need to be satisfied that the trustees believed themselves to be under a moral obligation to make the payment, and we would need to see the grounds on which the decision had been made,” she said.

The Watchtower Society wrote to Davis saying it did not think the commission would permit it to make an ex-gratia payment and informed him that it intended to close the case.

Davis said the Watchtower Society did not refer to a moral obligation in its letter to the Charity Commission. “If no such case was made to the commission, it would feel no duty to permit a payment,” he said. “But if a moral case to relinquish the estate was advocated, the Charity Commission would be unlikely to reject it.”

A spokesman for the Watchtower Society said: “The trustees sought guidance from the commission and, after considering Davis’s submission in light of the advice, concluded that a payment would not be permitted.”

February 13, 2008 Posted by Admin Staff | Christianity, Disfellowshipping, Jehovahs Witnesses, Money matters | | No Comments