Historic Manhattan Church Secures Future Through Landmark Air Rights Sale

Faith Facts

• The Society of the Free Church of St. Mary the Virgin in Midtown Manhattan has preserved its historic sanctuary by transferring unused development rights rather than selling the building itself.
• Church leaders chose to protect their ministry and worship space while still providing for long-term financial stability through a $23.9 million agreement.
• This decision reflects a commitment to faithful stewardship of both sacred property and future ministry needs.

The historic Society of the Free Church of St. Mary the Virgin has taken a significant step to safeguard its future while honoring its past.

According to court documents, the congregation has agreed to sell 87,000 square feet of unused development rights above its Midtown Manhattan property to Extell Development for $23.9 million.

This transaction allows the church to retain ownership of its sanctuary and continue its ministry without the pressure to sell the building outright.

“The church’s leadership carefully weighed this decision in light of both their calling to preserve worship and their responsibility to provide for future generations of believers,” a church representative stated in the filings.

The sale of air rights represents a creative approach many urban congregations are considering as property values soar and maintenance costs rise.

By transferring only the unused development potential above the building, St. Mary the Virgin keeps its historic structure intact while securing substantial resources for ministry and upkeep.

This path stands in contrast to other New York City churches that have faced pressure to sell their properties entirely to developers.

The agreement demonstrates how faithful institutions can navigate modern real estate challenges without compromising their core mission or sacred spaces.

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