DFMS enters lease agreement for Episcopal Church Center space
An agreement has been completed between the Domestic and Foreign Missionary Society (DFMS) and the Permanent Mission of the Kingdom of Lesotho to the United Nations to lease a portion of a floor at the Episcopal Church Center, 815 Second Avenue in New York City, NY.
“I am very pleased by this development,” explained Bishop Stacy Sauls, Chief Operating Officer. “For one thing, it is good stewardship of the Church’s assets, maximizing the funding available for mission. For another, we of the DFMS are pleased to be working cooperatively in this way with Government of Lesotho. As has been true with the government of Haiti, we hope being neighbors at 815 Second Avenue will lead to increased opportunities for partnerships.”
The Consulate will lease 6,379 rentable square feet on the eighth floor of the Church Center. This area is currently unoccupied.
The lease agreement is for three years. Anticipated revenue is $274,000 in the first year, which, N. Kurt Barnes, Chief Financial Officer, said, “provides an additional $274,000 in revenue beyond budget projections.”
Permanent Mission of the Kingdom of Lesotho to the United Nations joins the Consulat General de la Republique d’Haiti, the Ad Council and the Lyceum Kennedy School as tenants in the New York City building.
Parish Property Management, Inc. was the leasing agent for the transaction.
The Episcopal Church: www.episcopalchurch.org