Catholic Church contracts to sell 126-unit dev parcel in Longwood for $7.9M
Rendering of 799 East 152nd Street (Credit - Catholic Charities)
The Roman Catholic Church of Saint Anselm and Saint Roch signed a contract to sell a vacant development parcel at 671 Tinton Avenue also known as 799 East 152nd Street in Longwood, the Bronx, to Catholic Charities of New York through the entity St. Anselm Apartments LLC, where the buyer plans to develop a 126-unit affordable housing project. The contract was dated March 28, 2023.
The contract was disclosed in a petition the church filed seeking permission from the state for the sale, which is requirement for entities such as churches or nonprofits when then sell a substantial portion of their assets.
The sale price is divided into a $4 million cash payment and a $3.9 million purchase money mortgage with an annual interest rate of 10 percent.
Filing LINK
Catholic Charities’ website has a brief description of the project, saying it expects to have 126 units.
Cushman & Wakefield provided an appraisal of the property in 2022 that valued it for the purposes of an affordable housing project at $7.3 million.
Direct link to the property’s ACRIS page and link to DOB NOW portal.