Chabad Purchases Building on New York's Fifth Avenue
Chabad of Midtown Manhattan has closed on its purchase of a building on 509 Fifth Ave. for just under $40 million, The New York Post reported on the weekend.
According to the report, the 60,000-square-foot building sandwiched mid-block between E. 42nd and 43rd streets near Grand Central, was purchased from Norman Sturner’s Murray Hill Properties.
The local congregation now uses two floors in the building, said the report. Rabbi Joshua Metzger, who leads the congregation, said he intends to use the newly purchased building for a synagogue and community center that provides educational and charitable programs for the community at large.
“We are extraordinarily grateful to G-d for this enormous blessing,” said Rabbi Metzger in a statement.
“This record-breaking acquisition presents enormous opportunities and an awesome responsibility to ensure that all of our Jewish brethren in the heart of one of the largest cities of the world are cared for and inspired,” he added.
The lease for nine upper floors with Israeli Discount Bank ends soon and so the Chabad will be able to use that space.