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Hadassah Announces Sale of its Building

FOR IMMEDIATE RELEASE: June 18, 2012

GENERAL INQUIRIES CONTACT:
Pamela Vassil
Director, Marketing & Communications, Hadassah
pvassil@hadassah.org
(212) 303-8120 (o); (202) 303-4525 (f)

MEDIA INQUIRES CONTACT:
Samantha Friedman
Rabinowitz/Dorf Communications
Samantha@rabinowitz-dorf.com
(202) 265-3000 (o); (202) 215-9260 (c)








National women's Jewish organization celebrates fundraising successes

NEW YORK—Hadassah, the Women's Zionist Organization of America, announced today that it has entered into an agreement with BOB 57 LLC for the sale of its building at 50 West 58th Street for the sum of $71.5 million.

Hadassah's board of directors approved the sale on May 1, a contract was signed on June 5, and the organization's membership will be asked to express its approval at a special meeting of members on July 17 in Dallas.

The closing of the sale is subject to standard required approvals for non-profit organizations. The agreement ensures Hadassah the right to the use of Hadassah House for up to three years from the date of transfer of title.

Hadassah National President Marcie Natan expressed the following statement on the sale:

"Hadassah is thrilled with the opportunity presented by this potential sale, which coincides with our 100th anniversary in 2012. These exciting steps forward will allow us to find new, modern and upgraded space that will better serve our more than 330,000 members as we venture into our second century. With state-of-the-art offices, our volunteers and professional staff will be better equipped to continue to make strides in the issues that positively impact the lives of millions in the U.S. and Israel.

Hadassah leadership has been involved over the past nine months in the development of a strategic plan for its second century. Decisions regarding the allocation of funds will be addressed once the strategic plan has been finalized by the organization.

The sale of the building is but one part of a year of celebrations and commemorations for all that Hadassah has achieved in the United States and Israel in terms of health, education, advocacy, and empowering women and girls to become leaders in their communities. We are proud of our landmark fundraising last year, when we raised more than $90 million – over $20 million above our projected fundraising goal for the year – and grew our national life memberships by 60,000 people. We are thrilled to announce a $12.5 million matching gift from the William Davidson Foundation that will go toward our recently opened, brand-new Sarah Wetsman Davidson Hospital Tower in Jerusalem."

Founded in 1912, Hadassah, the Women's Zionist Organization of America, is celebrating its 100th year. Hadassah is a volunteer women's organization, whose members are motivated and inspired to strengthen their partnership with Israel, ensure Jewish continuity, and realize their potential as a dynamic force in American society. For more information, visit www.hadassah.org.

 

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