Jews For Jesus sells Kips Bay commercial building for $11M
The nonprofit Jews for Jesus sold the building 109 East 31st Street (Credit: Google)
Hope Church NYC paid the San Francisco-based nonprofit Jews For Jesus $10.8 million for 1 parcel, including the tax class office building with seven to 19 stories (O3) at 109 East 31st Street in Kips Bay. The deal closed on September 5, 2019 and was recorded on September 13, 2019. The parcel(s) have total development potential of 29,394 square feet.
The average sale price per square foot is $495.
Jews for Jesus acquired the building in June 1984. The organization last year paid $16 million for the adjacent mixed-use buildings at 45 and 47 West 8th Street in the West Village.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $316,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link