NEW YORK CITY—In a joint venture with Real Estate Capital Partners, RFR Holding has acquired 281 Park Ave. South, a six-story, 45,000 square foot landmark building formerly known as the Church Mission House.
RFR purchased the building—which is on the Southeast corner of Park Ave. South and East 22nd street, close to a 6-train entrance—for $50 million from the Federation of Protestant Welfare Agencies. Following upgrades that will include new storefronts, mechanical systems and new office lobby with entrance on 22nd Street, it will be repositioned as a showpiece for a single office user requiring 28,000 to 40,000 square feet.
“This building's sought after Midtown South location, along with the upgrades that we have in store, make it a tremendous opportunity for one user interested in a unique combination of high visibility retail and grand office space,” says Aby Rosen, co-founder and principal of RFR. “With its full retail frontage on Park Avenue South, we believe that it will garner significant interest from institutions and non-profits that are looking for the prestige of full building identity and control.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
