The Hellenic Orthodox Community of Astoria, St. Demetrios at a general assembly meeting held on Sunday, September 8, 2024, cast a two-thirds majority vote in favor of transferring a percentage of the newly-constructed building across St. Demetrios Church to the Greek Orthodox Archdiocese of America in exchange for cash consideration that will primarily benefit the St. Demetrios School.
Specifically, the vote in favor of this transaction transfers 39% of the new building at 30-67 31st Street, which has apartments and commercial space that will be operated as a daycare facility, to the Archdiocese. In exchange, the Archdiocese is providing $3 million to the St. Demetrios Community, which will allow the community to reinvest in its school through enhancements in its day school’s academics, curricula, and other programs, attract new students and make much-needed capital repairs and improvements to the community’s facilities including its churches and school buildings.
St. Demetrios is a crown jewel of the Greek Orthodox Archdiocese, home to the only Greek Orthodox day school that runs up to the 12th grade in the U.S. The school is currently the epicenter of Hellenism for hundreds of students and their families committed to learning the Greek language and ideals and attaining an education rooted in Orthodox Christianity. Its high school graduates enter competitive universities and become accomplished professionals in medicine, law, banking, and other sectors while spreading the Hellenic and Christian ideals that they learned at this school. The Greek Orthodox Archdiocese led by Archbishop Elpidophoros is committed to ensuring the continued development and growth of the community, including the St. Demetrios School.
It currently costs in excess of approximately $6 million to operate two churches, run the school, and offer ministries. Attempting to offset operating costs, and generate much-needed revenue, the community voted a number of years ago to construct a mixed-use building across the street from St. Demetrios with the goal of operating a daycare center and leasing apartments that would provide additional income to the community. Due to a number of reasons, including the escalating costs of building and regulatory approvals, both the cost and time needed to complete the building were more than originally contemplated. The building is now complete, as the Certificate of Occupancy has been issued. The building is expected to be fully leased in a few months.
The $3 million price was based on a market assessment and various estimated appraisals. The community will have the right to repurchase the interest sold to the Archdiocese at any time, at market value, allowing it to own the building outright or sell it entirely in the future.
The Proistamenos of St. Demetrios, Rev. Fr. Anargyros Stavropoulos stated, “ The community of St. Demetrios is most appreciative of the support offered by His Eminence Archbishop Elpidophoros and the Greek Orthodox Archdiocese of America, allowing the community to build upon the foundation that has been laid by our predecessors, invest in the future of education, Greek language and Hellenic studies in an Orthodox setting.
The future is positive for this community. May Saint Demetrios continue to watch over it and the many families for whom this church and school are home.
Photos: GOARCH (from Agiasmos, September 2023)
