Continuum Buys Midtown Church Property on East 35th Street for $66M

Continuum Buys Midtown Church Property on East 35th Street for $66M
By Isabelle Durso 

November 15, 2024 
Continuum has purchased the Community Church of New York’s property between 26 East 35th Street and 34 East 35th Street — which includes a rent-stabilized apartment building and a homeless shelter — for a total of $66.2 million, according to city records made public Friday….This comes after Continuum signed a $69.5 million ground lease with the church in December 2021…That deal has now been converted into a sale…The new deal probably comes as a relief for the Community Church of New York, which had been facing bankruptcy, according to The Real Deal. Before the deal closed, the church was able to buy a nearby townhouse for $6 million to relocate its renters and the shelter, TRD reported. Now, Continuum has plans to develop the site into a roughly 185,000-square-foot condominium building with between 130 and 150 units, TRD reported. The new building is set to begin leasing in 2025 or 2026.