The crisis is allegedly being orchestrated by their own religious leadership, various media outlets reported.
Lawyers working to halt the deal have revealed that a 99-year lease agreement has been signed by the Armenian Patriarchate, which will transfer up to 25 percent of the quarter's land to a commercial entity.
Reports suggest that the intention behind the deal is to construct a luxury hotel on a prime real estate spot, presently a parking lot nestled within the Old City walls.
Long standing history
The Armenian community has a long-standing history in Jerusalem, with their settlement dating back over 1,600 years.
Their presence expanded significantly in the early 20th century as Armenians sought refuge from the Ottoman Empire's genocide. However, over the past century, the Armenian population in the quarter has significantly declined.
This property emerges at a time when Christian Armenians feel increasingly squeezed by Jewish extremists and the ongoing Israeli occupation.
A severe threat
Despite few individuals having access to the actual contract and their reluctance to disclose its worth, lawyers and residents opposing the deal assert that it poses a severe threat to not only homes but also significant Armenian cultural heritage sites, including the Armenian heritage museum and cemetery within the quarter.
The controversy surrounding this real estate deal has resulted in a rift within the Armenian community, with protesters organizing regular demonstrations. Armenian residents and supporters have even formed human chains around the section of the quarter allegedly affected by the deal.
Speculation regarding the lessee led to the discovery of a sign on the parking lot displaying the name "Xana Capital".
Baret Yeretsian, a former priest and Real Estate Manager for the patriarchate, identified Xana Capital and its chairman Danny Rothman as the lessee. Yeretsian claimed that the contract, signed in 2021, aimed to secure future financial stability for the patriarchate.
Photographs provided by Yeretsian reportedly depict the signing ceremony, featuring Rothman, Yeretsian, Patriarch Nourhan Manougian, and the patriarch's deputy, Archbishop Sevan Gharibian.
However, the authenticity and timing of these photos could not be independently verified reported CNN.
Yeretsian, who left Jerusalem for the US under the patriarch's request, faced angry protestors upon his departure, angered by the deal. He maintains that he acted on the patriarch's orders and feels he is being made a scapegoat.
A threat to unity
While some residents express indifference toward the identity of the lessee, the Armenian lawyers investigating the situation emphasize that the issue extends beyond commercial purposes.
They view it as a threat to the unity and indivisibility of the Armenian community within the Old City, urging collective action to prevent the deal's execution.
The fallout from the community has garnered attention from the Palestinian Authority and Jordan, who have withdrawn recognition of the patriarch due to the real estate deal. The absence of the patriarch from the community has fueled further concern among residents.
During a ceremony at St. James' cathedral, the Patriarch's absence was notable, with his deputy, Archbishop Sevan Gharibian, confirming the existence of the deal but claiming efforts are underway to cancel it. Gharibian defended the patriarch's limited response to the matter, stating that not every question or discussion should be addressed publicly to protect ongoing efforts.
Many residents believe that the actions of the patriarchate prioritize financial gain over the preservation of Armenian heritage and community.
Amidst growing attacks by extremist Jewish settlers targeting Christians in Jerusalem, Armenians see this real estate sale as further endangering the Christian presence in the city. The escalating tensions and changes in Israeli policy have emboldened Jewish extremists, altering the city's shape and character.