Extell Development at 85th and Park

http://therealdeal.com/blog/2013/08/12/park-avenue-church-on-brink-of-massive-residential-conversion/

They're planning on 21,000 ft² of "community facility", which must mean the church, and 83,000 ft² of residential.

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=2&passjobnumber=121733222&passdocnumber=01

nursery school too. they are going nuts over the disruption at urbanbaby.

That's a rather handsome church building. Are we talking teardown/rebuild? Or something more novel?

It looks like the church is landmarked. Will this delay the process at all? Or is it just the 60-day holding period? Does the fact that it's a church affect the project? And, is there a chance that they finish this project before the current building spree cools?

It's not an individual landmark, and isn't in a landmark district, so the church is good to go.

Park Avenue Christian, meanwhile, has reached a so-called standstill agreement with the Landmarks Preservation Commission that halts the agency from designating the site a landmark, provided the church secures the LPC’s permission before making any changes to the building’s exterior, applying for any Department of Buildings permits for work that would affect the building’s exterior or entering into any agreement or contract for goods or services that would modify the exterior or the air space above it.
-From The Real Deal

So it's effectively landmarked, in all but name. Maybe that bit about the "air space above it" would let them build only above the interior of the lot, so the 1911 church and rectory would wrap around the new part. Or maybe they'll be able to insert floors into the sanctuary, like some other churches have been able to do.