CBRE Represents Church Of Jesus Christ Of Latter-day Saints In 40,000 SF Upper West Side Lease
245 West 77th Street
Building Size
40,000 SF
Asset Type
Church
Closing
Jan 11, 2024
AI
The landmarked Upper West Side space of West End Collegiate Church at 245 West 77th St is set to undergo a transformation, with The Church of Jesus Christ of Latter-day Saints securing a three-year lease for 40,000 square feet.
Summary of transaction details:
- Property Type: Church
- Transaction Amount: Not specified
- Address: 245 West 77th Street
- Market: Upper West Side
- Asset Type: Church
- Tenant: Church of Jesus Christ of Latter-day Saints
- Landlord's Rep: OPEN Impact Real Estate
- Tenant's Rep: Mark Zussman - CBRE
The deal was facilitated with the landlord being represented by OPEN Impact Real Estate, while Mark Zussman from CBRE acted as the tenant's representative.
New York Church Market Snapshot
Boundary boundary · Church · Lease 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