Aby Rosen is the buyer of NYC Church Missions House: source

Developer to position 281 PAS as a single-tenant office building

TRD New York /
Aug.August 01, 2014 12:36 PM

Aby Rosen’s RFR Realty is in contract to buy New York City’s Church Missions House at 281 Park Avenue South, The Real Deal has learned. Earlier this week, multiple sources told TRD that an Italian family was the buyer of the $50 million landmarked property, and intended to convert it into condominiums with retail at the base. However, a source involved in the deal today revealed Rosen as the buyer.

RFR plans to position the building as a single-tenant office building that could ideally serve as the headquarters for a company looking for a high-profile space in the hot Midtown South market, the insider said. Another option is to put retail on the bottom two floors of the building and office space on the upper floors, the source said.

The seller of the landmarked six-story, 36,749-square-foot property is the nonprofit group Federation of Protestant Welfare Agencies, which just picked up a $13 million office condominium at 40 Rector Street.

Massey Knakal Realty Services’ John Ciraulo and Savills Studley’s Howard Poretsky listed the property in April for $50 million, or about $1,361 a foot. Both brokers declined to comment. Other investors who looked at the deal include Himmel + Meringoff Properties and Empire Capital Holdings, sources said.

Related Articles

From left: Barbara Slifka, 477 Madison Avenue and RFR Holding's Aby Rosen (Credit: Google Maps and Getty Images)

Aby Rosen picks up Madison Avenue office property once center of family feud

The Four Seasons at 42 East 49th Street and Four Seasons managing partner Alex von Bidder (Credit: Four Seasons Restaurant)

Curtain closes on the Four Seasons at
280 Park

Deerfield's James E. Flynn and 345 Park Avenue South (Credit: RFR Realty)

Deerfield to pay $345M for Aby Rosen’s
345 Park Avenue South

Abu Dhabi’s Chrysler crash

From left: 100 East 53rd Street, Alain Verzeroli, and Aby Rosen (Credit: Michelin Guide and Getty Images)

This restaurant will anchor Aby Rosen’s 100 East 53rd Street condo tower

Ana Sorokin (Credit: Getty Images)

Con artist who sought nightclub deal with Aby Rosen gets 4 to 12 years in prison

Aby Rosen and 345 Park Avenue South (Credit: Getty Images)

Aby Rosen selling 345 PAS to medical fund manager Deerfield

The Chrysler Building and Aby Rosen of RFR Holdings

Abu Dhabi’s Chrysler crash