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Sale to Church Closes Loop on Interconnected Deals
Avison Young has completed Jan Hus Presbyterian Church’s acquisition of a four-story, 15,000-square-foot property at 1745 First Ave. for $10.3 million. The purchase is one of three interconnected transactions totaling more than $100 million that Avison Young has negotiated in recent months.
Jan Hus is relocating from its current 24,409-square-foot property at 351 E. 74th Street, which it sold for nearly $23 million in February to the Church of the Epiphany. Simultaneously, the Church of the Epiphany sold its property, a development site with a zoning floor area of 112,420 square feet at 1393 York Ave., to Weill Cornell Medical College for $68 million.
Avison Young’s senior directors Susan Kahaner and Jennifer Ogden represented Jan Hus in acquiring 1745 First, and collaborated with the firm’s tri-state investment sales group on the sale of 351 East 74th. Marcus & Millichap’s Danny Handweiler and Jared Bernstein represented the seller of 1745 First.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
