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RFR Buys 281 Park Ave. South

NEW YORK CITY—The company, along with joint venture partner Real Estate Capital Partners, plans to significantly upgrade the building and market it as several possible types of assets.

By Rayna Katz | Updated on January 05, 2015

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.

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