NEW YORK – Redeemer Presbyterian Church has purchased a 45,094-buildable-square-foot multifamily asset in Manhattan, that will be converted into a community facility space.
The church acquired the property for $29.5 million, representing $654 per buildable square foot, from the seller, an affiliate of GPG Properties.
The existing 25-unit multifamily property, located at 150 E. 91st St., is currently 21,342 square feet. Built in 1901, the asset has been consistently owned by the GPG Properties affiliate since the 1960's.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
