Union of Orthodox Jewish Congregations of America pays $25M to Philips International for FiDi commercial condo

The Union of Orthodox Jewish Congregations of America through the entity Union Of Orthodox Jewish Congregations Of America paid Philips International’s 40 Rector Owner LLC $25 million for 40 Rector Street in Financial District. The deal closed on January 14, 2021 and was recorded on January 25, 2021. The transaction consists of 2 parcels, including the tax class office condominium (RB). The properties have a total of 48,824 square feet of built space. The parcel(s) have total development potential of 48,824 square feet.
The average sale price per square foot is $512.

Philips International was the developer of the commercial condo building with 17 units. The contract date was December 2, 2020.
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The signatory for the buyer was Mark Moishe Bane.