Church pays $14.9M to furniture company for three office condos in Chelsea

The Community Church of New York Unitarian Universalist through the entity CCNY-UU, LLC paid $14.9 million to L. & J.G. Stickley through the entity L. & J.G. Stickley, Incorporated for three office condominium units at 217 West 25th Street in Chelsea, Manhattan. The expected use is owner-occupied.
The deal closed on March 24, 2026 and was recorded on April 7, 2026. The three properties have 16,422 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $910 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for L. & J.G. Stickley was Daniel Seidenstein . The signatory for Community Church of New York was Jonathan Birchall . The contract date was March 24, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Community Church of New York had purchased any other properties and sold five properties in one transaction for a total of $66.2 million over the past 24 months.
The seller L. & J.G. Stickley had not purchased any other properties and had not sold any properties over the same time period.

The property

The office condos in Chelsea has 16,422 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 9,410 square feet. The city-designated market value for the property in 2022 is $1.8 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

For the tax lot buildings, one out of the three buildings received a initial certificate of occupancy in the last ten years. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Chelsea, The bulk, or 35 percent of the 52.5 million square feet of commercial built space are office buildings, with elevator buildings next occupying 28 percent of the space. In sales, Chelsea has the 8th highest sale turnover among other neighborhoods in the city with $1.5 billion in sales volume in the last two years. For development, Chelsea has 1.9 times the average amount of major developments relative to other neighborhoods and is the 15th highest in Manhattan. It had 3 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space. There were 39 pre-foreclosure suit filed among other office buildings in the past 12 months.

The block

On the tax block of 217 West 25th Street, PincusCo has identified the owners of six of the nine commercial properties representing 483,116 square feet of the 644,053 square feet. The largest owner is Tf Cornerstone, followed by Naftali Group and then Torkian Group.
There are no active new building construction projects on this tax block.

The majority, or 76 percent of the 644,053 square feet of built space are elevator buildings, with office buildings next occupying 21 percent of the space.

The buyer

The PincusCo database currently indicates that Community Church Of New York owned at least one commercial property with two residential units in New York City with 5,957 square feet and a city-determined market value of $6.7 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Manhattan.

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