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AFC Will Convert Harlem Church to Condos

NEW YORK CITY-The development arm of AFC Realty will convert a Harlem church into a residential condominium. The total project cost is expected to be $11.8 million.

By Barbara Jarvie | Updated on May 24, 2005

NEW YORK CITY-The recently formed development group of AFC Realty Capital will renovate a five-story building at the intersection of Fifth Avenue and 127th Street into 28 condominium residences. The total project cost is expected to be $11.8 million, according to an AFC spokesperson. Prices for the units will range from the upper $400,000s for one-bedroom units to more than $1 million for three-bedroom duplex residences.

Built in the 1920s, 2056 Fifth Ave. was originally home to the Finnish Community Center and was most recently housing the Gospel Temple Church. Initial construction activity is expected to begin soon with the conversion scheduled to be completed in nine to 12 months, according to Oskar Brecher, president of AFC Development Group, a wholly owned subsidiary of locally based investment banking firm AFC Realty Capital.

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