Episcopal Church Moves Toward Sale of Manhattan Headquarters

The Episcopal Church has identified a potential buyer for its 12-story headquarters located at 815 Second Avenue in midtown Manhattan. The denomination’s Executive Council recently authorized leadership to negotiate a purchase agreement for the 63-year-old building, which is valued at approximately $52 million. While the identity of the buyer and the final sale price remain confidential, the church plans to maintain operations on the building's sixth floor until July 2027 before transitioning to temporary office space.

Presiding Bishop Sean Rowe described the sale as a strategic effort to repurpose a legacy asset to support the denomination's future. According to church officials, 25% of the net proceeds will fund the transition to new offices, while the remaining funds will be placed into a trust to support church planting, revitalization, and congregational development. Chief Financial Officer Chris Lacovara noted that the 146,000-square-foot facility is currently underutilized, leading the church to conclude that owning and occupying the midtown property is no longer necessary for its mission.