The Real Deal New York

Aby Rosen closes on NYC’s Church Missions House for $50M

RFR to convert iconic building into office space; wants more than $100psf rent

January 06, 2015 09:00AM

Aby Rosen and the Church Missions House at 281 Park Avenue South

Aby Rosen and the Church Missions House at 281 Park Avenue South

Aby Rosen’s RFR Realty has closed on New York City’s Church Missions House at 281 Park Avenue South for $50 million.

Rosen entered contract on the property in August, as first reported by The Real Deal. RFR plans to refurbish the office building, according to a release from the developer, to turn it into a property that could fetch rents of more than $100 per square foot.

The building is seven stories and offers roughly 40,000 square feet of office space and RFR is contemplating to rent it out to one single tenant. The firm also owns other prominent office buildings in town, including Lever House and the Seagram Building.  —Claire Moses

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