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New York archdiocese plans to mortgage prime Manhattan property to pay sex-abuse costs

March 06, 2017

The Archdiocese of New York plans to mortgage a valuable Manhattan property in order to pay sex-abuse victims.

The archdiocese has filed for permission to mortgage land on Madison Avenue, between 50th and 51st Streets. The mortage could raise $100 million. The archdiocese currently owns the land, which is the site of a hotel and several luxury homes.

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  • Posted by: dfp3234574 - Mar. 07, 2017 11:05 AM ET USA

    And the fleecing of the flock by Church-suing contingency lawyers continues.

  • Posted by: unum - Mar. 07, 2017 8:47 AM ET USA

    New Yorker is just another diocese where the Faithful can expect a fund drive to pay off the mortgage. The focus on management and banking leaves the people of Christ with no real shepherds to guide them.