JCF gets 2 more weeks to decide on buying buildings
by The Jewish Community Federation has requested and received an additional two weeks to decide if it wants to purchase two buildin, Fund-raising is going well and financing is falling into place for the $28.25 million purchase, Goldman said, but the JCF didn't
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In August, the JCF signed a purchase agreement to buy a pair of interconnected buildings at 131 and 141 Steuart St. The approximately 75,000 square feet of rentable space is directly next to the JCF building at 121 Steuart St.
As a service to the community in an era of skyrocketing rents, JCF wants to lease nearly all of the space in the buildings to Jewish agencies at less than market value.
The two buildings currently have many tenants, which is another factor JCF is investigating during its due diligence on the properties. The JCF wants to make sure of two things: that the space can soon be made available to Jewish agencies, and that it will be able to afford a mortgage based on the cut rates it plans to offer Jewish agencies.
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