Image of Investment Property

20 West 26th Street (Serbian Orthodox Cathedral of St. Sava)

Air Rights Sq Ft: 254,000

Purchase Date: In Contract

Purchase Price: In Contract

Client: Serbian Orthodox Cathedral of Saint Sava


In mid-2013, Tenantwise was retained by the Board of Trustees of the Serbian Orthodox Cathedral of Saint Sara to represent it in the negotiation of the sale of its 254,000 square feet of air rights. Since being retained, Tenantwise has used its developer profit-driven valuation methodology to begin negotiations with nine owners of sites to which the air rights could be transferred under New York City zoning regulations. Additionally, Tenantwise is coordinating the work of zoning attorneys and architects to develop the maximum-allowable square footage that can be built on an adjacent site.