ShirleyW - looks like the hotel is at 60 Furman St so a few blocks from the old WT property although I thought that 360 was being turned into condos.
Fisherman - Seriously? To suggest that NYC was going to take over the WT buildings because it hindered growth in Brooklyn is a real stretch. Brooklyn is full of development right now and while Brooklyn Heights has always been nice, those buildings were not critical to the growth of Brooklyn. Plus, I would love to see an example of eminent domain being used against a religious organization to hand over several non-connected buildings to commercial interests.
The reality is that the WT is cashing out. Why is the question. Maybe because they think they can get maximum value now. Maybe because they are facing a cash flow issue and those buildings are too expensive to maintain. Or they need the cash for balance sheet purposes. I'm not of the opinion that some shadowy "real" owners of the WT want to cash out their investment since that seems just as ridiculous as the big bad Brooklyn government looking to seize their property via eminent domain.
Plus, you do realize that when the government goes through that process in the US, they have to provide "just" compensation right? So even if what you are saying is true, they would be compensated but at fair market value.