Four months after announcing plans to offload the 12-story building that houses its headquarters in midtown Manhattan, Episcopal Church leaders say they have found a potential buyer for the building, which is valued at nearly $52 million. The church’s Executive Council authorized officers to negotiate a purchase agreement to sell the Episcopal Church Center at 815 Second Ave. during a regular meeting Monday, the denomination said in a statement.
The council also passed a resolution adopting the Episcopal Church’s strategic plan, which includes the sale of the building. The sale price and the buyer’s identity are expected to remain confidential until closing. Church staff is expected to keep working only from the building’s sixth floor until after July 2027, when the denomination plans to move to temporary office space in New York City.
“I think it’s really the opportunity to put our money where our mouth is, and say we’re going to repurpose an asset that we have that has been given to us as a legacy, and we’re going to use it to plant seeds for the future,” Presiding Bishop Sean Rowe told the Episcopal News Service after the Executive Council voted on the resolutions Monday.
“This is essentially saying we’re going to sell the house in order to plant new churches and revitalize our congregations, and I think it sends a great message to the church.” The Executive Council said 25% of the net proceeds from the sale will go into a trust fund to pay for building out and moving into temporary office space in New York.
The rest will go into a second trust fund to support grants for church planting, revitalization and redevelopment.