The Real Deal New York

Church property could be key component of new Extell tower

Congregants to decide this year whether or not to sell two properties at 123 West 57th Street
May 04, 2015 08:00AM

The Calvary Baptist Church on West 57th Street is planning to decide whether or not to sell two properties to Gary Barnett’s Extell Development.

The sanctuary, as well as the 197-key Salisbury Hotel at 123-141 West 57th Street, could be a key component of another project by the One57 developer on the same block, according to Crain’s. Barnett has been in talks with Calvary Baptist since last fall.

Extell’s exact plans with the site aren’t known yet, but a new project could rival One57 in size and scope, the website reported.

The church’s properties could be worth upward of $100  million, Crain’s reported. Extell, which is known for creating assemblages, has already bought multiple parcels on 57th Street. If the church decides to sell, however, it could double the developer’s plans.

“We look forward to a year in which God guides us through the challenges of everyday service, and brings a conclusion to our journey through the land of redevelopment and building study,” Calvary Baptist’s Board of Deacons chairman John Clenance wrote in a report that was posted on the church’s website, according to Crain’s. A final vote on whether or not to sell will likely happen by the end of the year. [Crain’s] — Claire Moses