Chabad Purchases New York Building for $42 Million
Chabad of Midtown Manhattan has closed on the purchase of a 60,000 square foot building in New York City for $42 million, in one of the largest real estate deals in Chabad’s history.
The 12 story building located near Grand Central Terminal and the New York Public Library’s main branch on 42nd street, has been occupied by the global Jewish movement for over 15 years.
“We serve three primary constituencies,” said Rabbi Joshua Metzger, the 42nd street location’s director. “The commuter working crowd, residential locals, and tourists and business travelers. Every year, tens of thousands of people walk through our doors to participate in our popular services and programs.”
Chabad currently runs a community center and synagogue out of the 42nd street building, which helps direct the activities of numerous Chabad houses in New York City, and erects one of Manhattan’s most famous sukkahs each year during the Jewish holiday of Sukkot, placed in Midtown’s Bryant Park.