by TJ Curioso 17 Replies latest watchtower scandals
Rumor has it Suffern Commons has been put up for sale.
Good news for Suffern residents who will gain over $50K in property taxes going forward. This must have been a great hit to the schools, police, DPW, etc. that normal, functioning members of society all know they must contribute to.
These selfish cult people sucked money out of the community. Hope the new neighbors are productive, beneficial types who actually want to live there and support the town.
SOLD!
Suffern's transit-oriented revival attracts investors
The recent $11 million sale of a 48-unit apartment complex on Chestnut Street shows investors' optimism about Suffern's future, said Paul Adler, chief strategy officer of the Rand Commercial real estate firm.
"We've got an unprecedented price in Rockland County," said Adler, as he spoke about the deal during the 2018 annual commercial real estate forum. "Suffern is in the vanguard of making TOD happen."
The sale was one of the most expensive real estate transactions in Rockland in 2017; the top was the $30 million sale of the former Novartis campus, also in Suffern.
In 2013, the three-story complex, then called Suffern Commons, was sold for $9.2 million to Watchtower Bible and Tract Society of New York, a religious organization that supports members of Jehovah's Witness. Watchtower used the complex as temporary housing for members while building a new headquarters in nearby Warwick in Orange County.
The massive headquarters project has been completed, and the religious organization put the apartment complex up for sale last year. Ethel 1 Suffern LLC, whose address is in care of Moses & Singer, a Manhattan law firm, scooped up the property for $11 million in an auction-style bidding process.
The new owner spruced up the property and started leasing in December. The complex includes three styles of two-bedroom apartments, currently offering one month of free rent. Rent starts at $2,100 a month.
Rick Weisman, a Rand Commercial real estate agent who manages the apartment complex, now called Chestnut Manor, declined to reveal who's behind Ethel 1 Suffern LLC. But he said the owner is an investor who has multiple investment properties.
Ethel 1 Suffern LLC is listed in the Legal Notices page of the August 4, 2017 Jewish Press.
https://issuu.com/jewishpress.com/docs/jp080417_low
So Watchtower bought a property for a specific use, used it as stated, and now sold it. Is this newsworthy? I'm not being sarcastic, I just saw it and wondered if I'm missing something beyond the obvious.
Your not missing anything. Its not newsworthy
I think it is newsworthy. Maybe not important, but newsworthy.
Or perhaps I find any post relating to Borg financial and real estate matters interesting.
Thats fair. I took dub’s question to mean “is there something sinister sneaky or otherwise culty” about the situation which there does not apoear to be.... But yes in the realm of general jw information it is worth noting.
Yeah, Morpheus got me. I thought that the parts in bold were possibly being used to assert something larger.
