UNA announces sale of building (08/24/97)

UNA announces sale of building

JERSEY CITY, N.J. - The Ukrainian National Association's Executive Committee announced to its membership and the Ukrainian community at large that the UNA headquarters building was sold on August 14 by the Ukrainian National Urban Renewal Corp. (UNURC) to Montgomery Associates. The building at 30 Montgomery St. in Jersey City was sold for $21.2 million.

According to a press release issued by the UNA Executive Committee, the decision to sell the building housing the UNA's Home Office was made in May 1995 by the association's General Assembly in response to pressure from New Jersey state insurance authorities, who had expressed concern over the significant financial investment that would have to be made to renovate the building. Such pressure was applied by insurance authorities also to commercial insurance companies that owned commercial buildings, the UNA Executive Committee explained.

The agreement of sale was signed on May 16 after the UNA accepted the highest bid offered for its building. The offer was approved by the special committee on the sale and purchase of UNA headquarters buildings established by the UNA General Assembly, whose members are: the five members of the UNURC board of directors, Ulana Diachuk, Martha Lysko, Alexander Blahitka, Alexander Serafyn and Walter Korchynsky; auditors William Pastuszek and Anatole Doroshenko; and Honorary Member of the General Assembly John O. Flis.

The special committee was charged with reviewing all bids on the UNA headquarters building in Jersey City, and with approving the purchase of new facilities for the UNA Home Office and its publishing house.

For the time being, the UNA and its publishing operations remain at 30 Montgomery St., where they are renting their premises.

Meanwhile, the UNA has signed an agreement of sale and purchase for the building located at 2200 Route 10 in Parsippany, N.J., an area where many Ukrainians, especially those of the younger generation, have moved from Newark and environs. The UNA plans to move into its new headquarters during the fall.

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