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442 East 3rd Street

Igor Pasternak Acquires Church In Los Angeles For $10.7M
SOLDChurch

Igor Pasternak Acquires Church In Los Angeles For $10.7M

442 East 3rd Street

$10,700,000

$372/SF

Building Size

28,716 SF

Asset Type

Church

Closing

Mar 10, 2023

AI

The property at 442 East 3rd Street in Los Angeles has been sold. The asset involved in this transaction is a church, spanning 28,716 square feet. The sale price for this property was $10,700,000, resulting in a price per square foot of $373.

Summary of transaction details

  • Property Type: Church
  • Transaction Amount: $10,700,000
  • Square Footage: 28,716
  • Address: 442 East 3rd Street, Los Angeles
  • Market: Los Angeles

The buyer of this property is Igor Pasternak. On the other hand, Jodo Shu North America Buddhist Missions acted as the seller. The deal was facilitated by the Anthony | Steck | Giordano Team - Kidder Mathews, with Christopher "Chris" Steck, John Anthony, Christopher "Chris" Giordano, and Phillip "Phil" Taggart as the brokers representing the respective parties.

Players

John Anthony

Kidder Mathews

Broker

$91.8M

vol

14 deals

Broker

Market Church Market Snapshot

Boundary boundary · Church · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.48%

Cash-on-Cash

-0.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93