Anti-poverty, policy and advocacy nonprofit Federation of Protestant Welfare Agencies has purchased a 17,786-square-foot unit at 40 Broad Street, also known as the Setai Wall Street, for $8.5 million, Commercial Observer has learned.
The commercial unit spans the entire fifth floor and the city’s Department of Buildings has already approved plans there for 47 executive offices, according to the marketing materials. The nonprofit is expected to relocate from its headquarters at the landmarked Church Missions House at 281 Park Avenue South, which it is in contract to sell for $50 million.
Oneworld Property Advisors‘ Vlad Sapozhnikov represented the sellers, Russian investors using an LLC, in the deal which closed yesterday. He also represented the LLC when it purchased the condo in June 2013 for $6.3 million. Savills Studley’s Howard Poretsky negotiated on behalf of the federation. He declined to comment and the federation didn’t immediately respond to a request for comment.Nonprofit Nabs Condo at Setai Wall Street for $8.5M
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