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.
For all current news, visit our News home page.
All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!
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.