Closing Bell: Boerum Hill's Church of the Redeemer Sells for $20 Million

Real estate investment firm The Jackson Group has paid $20,000,000 for the Gothic Revival Church of the Redeemer in Boerum Hill, DNAinfo reported. Neighbors spent years fighting to preserve the 127-year-old structure at the corner of Pacific Street and 4th Avenue, but the Episcopal Diocese of Long Island began marketing the church as a development site last year. Church officials told DNAinfo that “mounting monthly costs” forced them to sell the building, which needs an estimated $4,000,000 in repairs.

The deal does not include space for the congregation, which was part of the church’s original plans to sell the property. The sale closed the week of September 5, but it hasn’t hit the public records yet. The Jackson Group hasn’t revealed whether they’re going to demolish the building, which sits on a lot zoned for a building as large as 70,000 square feet and up to 10 stories tall, a source told us.

Boerum Hill’s Church of the Redeemer Sells for $20 Million [DNAinfo]
Sale and Demolition Planned for 4th Avenue’s Church of the Redeemer [Brownstoner]
Photo by Nicholas Strini for PropertyShark