LA real estate firm buys shuttered church site for $40M

Archdiocese had closed the East Village’s Church of the Nativity about 5 years ago

Mar.March 23, 2020 04:30 PM
42-46 2nd Avenue (Credit: Google Maps)

42-46 2nd Avenue (Credit: Google Maps)

The shuttered Church of the Nativity site in the East Village now belongs to a Los Angeles-based real estate firm.

Gemini Rosemont purchased 42-46 Second Avenue from the Roman Catholic Church for $40 million, according to property records. The Archdiocese of New York closed the church in 2015 and merged it with the nearby Most Holy Redeemer church as part of its massive reorganization plan, according to EV Grieve.

Representatives for Gemini Rosemont and the archdiocese did not respond to requests for comment.

Gemini Rosemont is a real estate investor based in Los Angeles that also has offices in New York, Dallas, Denver, Houston and Santa Fe. The LLCs that purchased 42-46 Second Avenue are based out of the company’s Santa Fe office.

The archdiocese had previously considered partnering with the Cooper Square Community Land Trust on a low-income senior housing project on the site, but church officials ultimately rejected the plan, according to Curbed. The organization had offered to buy the site for $18.5 million, but the archdiocese had expressed interest in getting a market-rate price for the land and using the money to help fund Most Holy Redeemer and other churches in the city.

Other recent East Village deals include Granite International Management’s $11.5 million purchase of 182-184 Avenue A and Highpoint Property Group’s $24.74 million purchase of 436 and 442 East 13th Street.

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