Archdiocese wants to mortgage Manhattan real estate to pay off sex abuse victims
The Archdiocese of New York plans to mortgage a prized piece of Madison Avenue property behind St. Patrick’s Cathedral for $100 million so it can pay off victims of priestly sex abuse and keep the sordid details out of open court.
The filing in Manhattan Supreme Court says JP Morgan Chase has agreed to loan the potential hush money against the archdiocese’s ownership of land beneath the landmark Villard Mansion and the luxury Lotte Palace Hotel on Madison Avenue between 50th and 51st streets.
An archdiocese spokesman confirmed Tuesday that it needs the cash to carry out Cardinal Timothy Dolan’s plan to strike out-of-court settlements with victims of abuse at the hands of priests and deacons.
1 in 5 New York Kids Are Sexually Abused. Help Prevent That
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9 out of 10 of the perpetrators are never brought to justice and never appear on sex offender registries.
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