T
he potential redevelopment of another New York City church is currently hanging in the balance as Kahen Development Group, an affiliate of Kahen Properties, has agreed to purchase the Holy Rosary Church at 433 East 119th Street in East Harlem for $5 million. The sale is pending approval from the state court due to laws around selling religious sites. The property, which is in complete disrepair with a crumbling stairwell, was decommissioned by the Archdiocese of New York in 2017.

    The 13,000-square-foot church and adjoining rectory also include 4,900 square feet of air rights. The property is located on a block zoned for residential buildings, making it an attractive prospect for developers like Kahen.

    Kahen did not respond to Gothamist’s request for comment, while Ariel Property Advisors declined to comment while guiding the Archdiocese through the sale. A previous attempt to sell the building fell apart due to the steep cost of repair. This year, a developer affiliated with the Institute for Studies on Latin American Art planned to buy the building and turn it into a museum, only to balk at a $44 million construction repair estimate.

    Church sales are becoming more common in New York as developers seek sites for housing and religious organizations try to shore up their financial spreadsheets. The market for religious real estate is often inefficient and can confound creative reuse efforts.