Key facts
- Airbnb acquired the Church Missions House, a 40,000 sq ft building in Gramercy Park, New York City.
- The transaction was valued at $81.5 million.
- The building was previously owned by RFR.
- The purchase occurs while Airbnb lobbies against New York's Local Law 18, which severely limits short-term rentals.
- Airbnb plans to use the building as a significant employee hub.
Airbnb has acquired the historic Church Missions House, a 40,000-square-foot Beaux-Arts landmark in Gramercy Park, New York City, for $81.5 million. The purchase comes as the company actively opposes Local Law 18, legislation enacted in 2022 that drastically reduced the number of short-term rentals available in the city from over 60,000 to approximately 3,000.
Airbnb has been a vocal opponent of the law, attempting to block its passage and continuing to advocate for its repeal. The company has reportedly spent around $1 million annually on lobbying efforts since 2022. In an effort to garner local support, Airbnb has also engaged in community initiatives, including donating World Cup tickets and funding the construction of soccer minipitches.
Brian Chesky, CEO of Airbnb, stated that the newly acquired building will serve as one of the company's largest employee hubs outside of its San Francisco headquarters. He emphasized the city's long-standing importance to Airbnb's history and the company's commitment to continued investment.
The Church Missions House, designed in 1894, has a notable history, including its association with fraudster Anna Sorokin, also known as Anna Delvey, who had planned to establish a private members' club and art foundation there. More recently, the building housed the Fotografiska New York gallery, which closed in 2024. The seller, RFR, had initially listed the property in 2022 with an asking price of $135 million.