Updated Oct 29, 2024
God’s Flock Christian Fellowship Church Of The Nazarene Acquires Property From Fort Lee Jewish Community Center
1641 Anderson Ave, Fort Lee, NJ, 07024
Building Size
3,584 SF
Asset Type
Special Purpose
Closing
Nov 19, 2023
About this deal
AI
The property involved in this transaction is located at 1641 Anderson Ave, Fort Lee, NJ, 07024. The structure encompasses a total area of 3,584 square feet and was previously utilized as a synagogue by the Fort Lee Jewish Community Center, which dates back to 1950.
Summary of transaction details:
- Property Type: Synagogue
- Transaction Amount: Not disclosed
- Address: 1641 Anderson Ave, Fort Lee, NJ, 07024
- Market: Fort Lee
- Seller: Fort Lee Jewish Community Center
- Buyer: God’s Flock Christian Fellowship Church of the Nazarene
- Seller's Representatives: Maria Lima-Weichert Commercial Brokerage, Cynthia La Terra-Weichert Commercial Brokerage
Cynthia “Mawn” La Terra and Maria Lima represented the seller in this transaction, while Jaime Weiss, president of Moonachie-based Weiss Realty, acted as a consultant. The new owner, God’s Flock Christian Fellowship Church of the Nazarene, intends to transform the space into a religious facility that is projected to open in December.
Players
Fort Lee Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Sale transactions
Loading comparables…
Deal FAQ
Browse New Jersey special purpose sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93