Faithful Central Bible Church
Sale of the Forum to Madison Square Garden Company

Great Western Forum

Plans are for comprehensive Forum renovation which the City supports as part of an economic development strategy.

The Challenge

The Church and the City wanted an owner who would take care of the landmark asset through reuse, but only a small pool of such buyers would yield the greatest value.  Consequently, the Church needed a public-private broker that could negotiate the best outcome given the few opportunities available.

The Solution

Kosmont Realty negotiated a sale to Madison Square Garden in a transaction that maximized the sale value for the seller.  The seller and City benefited most by selling the landmark Forum to a buyer that owns and operates such venues rather than risk demolition. The fully-renovated 17,500 seat music venue opened to the public in January 2014.  Property Disposition:  $23.5 Million

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