The church properties are assessed at nearly $103 million, according to city records. The church's decision to evaluate its real estate holdings comes two years after it posted an $8-million loss, its first in a decade.
"This is an exploratory process," Davis says, adding that while a decision has not yet been made, church officials are working closely with several local real estate consultants and planners to determine the best use of the assets. "For the last few years there has been underutilized space in the buildings and we're just trying to find a way to make the best use of our resources."
Davis says the vacancies are largely due to staff reductions and outsourcing. At least three of those buildings--a 28-floor administration building, the Colonnade, a 525-foot building abutting the church's reflecting pool, and the Mary Baker Eddy Library--are not fully occupied.
The church also owns office buildings at 247 Huntington Ave. and 204-216 Massachusetts Ave., the MidTown Hotel at 200-220 Huntington Ave., the Publishing Society House and a Sunday School building Also among its holdings are an extension building housing one of the world's largest organs and the Mother Church building, which sits at the plaza's center in front of a reflecting pool.
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