The Journey Church NYC Extends 10-Year Lease At 247 West 37th St
247 West 37th Street
Building Size
8,643 SF
Asset Type
Church
Closing
Jan 31, 2024
About this deal
AI
The Journey Church NYC has signed a 10-year lease extension for its 8,643-square-foot space on the third floor of 247 West 37th St. in the Garment District.
Summary of transaction details:
- Property Type: Church
- Transaction Amount: Not specified
- Address: 247 West 37th Street
- Market: Garment District
- Asset Type: Church
- Square Footage: 8,643 SF
Matthew Mandell from GFP Real Estate represented the landlord, and Gary Youm from JLL represented The Journey Church NYC in the lease extension deal.
Traded’s record for 247 West 37th Street in New York, New York covers a church lease from 2024. The building is 8,643 square feet, implying about 0 per square foot on the published price. Matthew Mandell, Gary Youm, JLL, GFP Real Estate appear on the lease alongside JLL, GFP Real Estate. This page is the New York, New York file for the 247 West 37th Street church leased: pricing, party profiles, and other closed church comps from the same New York sit in the Market section below. Filter that New York church set by closing date to see what else leased near 247 West 37th Street around 2024. Cite this The Journey Church NYC Extends 10-Year Lease At 247 West 37th St lease when underwriting similar church product around New York, New York.
Players
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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