Bloomberg- Dennis Suskind, a former Goldman Sachs Group Inc. partner, plans to convert a church in Sag Harbor, New York, into a residence. Hedge-fund manager Adam Sender wants the 19th century landmark to show his art collection.
The Sag Harbor United Methodist Church took Suskind’s offer of “under $3 million” as it was the only one “on the table,” said church board Chairman Bruce Stafford, in a telephone interview. Sender said he didn’t get the chance to bid — he asked to meet church officials after his architects saw the building on July 19 and was told Suskind had contracted to buy it.
“I would have matched his offer and made it an art museum,” said Sender, 38, a resident of nearby Noyack and owner of a $100 million contemporary art collection. The church could be a mini Tate Modern for the former whaling port, he said. “Another residence is not what the Sag Harbor community wants for the church.”
The Sag Harbor Historical Society said the church “should remain accessible to the people.” A community group tried and failed to raise funds to buy the church, Stafford said. Sender, who said his Exis Capital Management Inc. of New York gained 22 percent in August after fees, still aims to rouse opposition to his rival.
The church has stood since 1864 on a half acre in the center of the town, which is near East Hampton. The building was put up for sale this year as the church community couldn’t raise the money needed for restoration, Stafford said. A smaller house of worship will be built nearby for the congregation of 40 with the sale proceeds, he said.
