Episcopal Church puts headquarters on market | Arkansas Democrat Gazette

The Episcopal Church announced it will market its New York headquarters, signaling a shift in how large religious bodies manage property. The 12-story building at 815 Second Ave., completed in 1963 for about $4 million, and spanning 146,000 square feet, anchors the church's assets in a dense urban market. Officials see a sale or long-term lease as a path to redevelopment, potentially including affordable housing. The headquarters remains the denomination's most valuable asset outside endowments. Membership has fallen from 3.4 million in 1960 to about 1.4 million by 2023; 2024 figures were not released. The move is framed as a strategic realignment rather than a budget-driven sale. Rev. Ian Markham calls the decision largely symbolic, signaling a shift of influence toward local communities. A price estimate was not disclosed, but developers are expected to show interest in redevelopment. The church emphasizes a broader social-justice agenda as part of its mission and community accessibility. The decision illustrates how major religious institutions rethink assets to stay relevant in urban centers. The outcome will test how faith-based organizations balance heritage with adaptation and fiscal responsibility.