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1641 Anderson Ave, Fort Lee...

Updated Oct 29, 2024

God’s Flock Christian Fellowship Church Of The Nazarene Acquires Property From Fort Lee Jewish Community Center
SOLDSpecial Purpose

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:

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

Cynthia La Terra

Weichert Commercial Brokerage

Broker

1 deal

Broker

Fort Lee Special Purpose Market Snapshot

Boundary boundary · Special Purpose · Sale transactions

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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

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