Private investor closes on W’burg church for $13.7 million

TRD New York /
Dec.December 19, 2011 04:49 PM

[Updated at 5 p.m. with comments from HFF broker] A 37,500-square-foot Williamsburg church has sold for $13.7 million, according to MNS, which brokered the deal on behalf of the buyer, a private investor who may choose to preserve the property.

The three-story historic church of St. Vincent de Paul, on North 6th Street between Bedford and Driggs avenues, was designed by architect Patrick Keely in 1869 and comprises a total 37,500 square feet, with up to 75,000 square feet permitted, according to the FAR.

“The sale of St. Vincent de Paul Church further establishes the incredible amount of interest we are seeing from developers and investors in Williamsburg,” said David Behin, head of MNS’ investment sales and capital advisory division, which negotiated the deal with the Roman Catholic Archdiocese of Brooklyn.

Andrew Scandalios, senior managing director at Holliday Fenoglio Fowler, represented the Archdiocese of Brooklyn in the deal, which took a long time to finalize.

“The church hasn’t been used in a very long time,” he said. “They’re in the process of monetizing various assets. The building actually went into contract in the spring but the Archdiocese had to get certain approvals.”

Scandalios added that the buyer may choose to develop within the existing structure of the building, which would be a “win-win for the community.”
– Katherine Clarke


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