Cathedral of St John the Divine building Apartments

Churches sell buildings and parcels to real estate developers

The General Theological Seminary, an episcopal seminary in Chelsea, has sold another building to the Brodsky Organization, a large Manhattan-based residential management and development firm.

The religious organization has been in the process of selling a number of buildings to the developer to convert to luxury condominiums since 2010, when it encountered financial trouble. The seminary just sold 445 West 20th Street, between Ninth and 10th avenues, to Brodsky.

Now The Real Deal reports The Cathedral of St John the Divine in Morningside Heights will be building apartments on its Upper West Side property. 428 residential apartments, at Amsterdam Avenue and 113th Street. The project would rise 15 stories, or 149 feet.

The two-building project, undertaken to support the cathedral financially, will be constructed under the 80/20 Housing Program (which allows for 80 percent market-rate while requiring 20 percent affordably-priced apartments)

The church signed an agreement last month with Brodsky, to lease the parcel. Brodsky will pay rent for the land, but the religious organization is not co-developing the site nor will it profit directly from the apartment building,

Cathedral Church of Saint John the Divine, an awesome landmark in Morningside Heights.

Cathedral Church of Saint John the Divine, an awesome landmark in Morningside Heights.
Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.

- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf

Cathedral Church of Saint John the Divine, an awesome landmark in Morningside Heights.

Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.

- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf

Cathedral Church of Saint John the Divine, an awesome landmark in Morningside Heights.

Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.
- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf

Cathedral Church of Saint John the Divine, an awesome landmark in Morningside Heights.

Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.
- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf

Cathedral Church of Saint John the Divine, an awesome landmark in Morningside Heights.

Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world
- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf

Cathedral Church of Saint John the Divine, an awesome landmark in Morningside Heights.

Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world
- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf

Cathedral Church of Saint John the Divine, an awesome landmark in Morningside Heights.

Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world
- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf

Cathedral Church of Saint John the Divine, an awesome landmark in Morningside Heights.

1 comment:

TracyRobertsNovember 14, 2013
Well to0 find an apartment being sold in the city like Chelsea sounds real surprising well it will be of great benefit to the real estate developers. Specially to those looking forward to Manhattan student housing.