Solid Rock Pentecostal Church Inc. Acquires Church In Ozone Park For $3M
132-05 Cross Bay Boulevard
$3,000,000
$480/SF
Building Size
6,240 SF
Asset Type
Church
Closing
Apr 3, 2024
AI
The Church located at 132-05 Cross Bay Boulevard in Ozone Park was sold in a closed transaction. The property, previously owned by Richmond Hill United Methodist Church, was purchased by Solid Rock Pentecostal Church Inc. The deal was facilitated by Ecclesiastical Realty LLC, represented by brokers Steve Bodden, Roget Lerner, Rev. Dr. Bill Shillady, and Jack Lerner.
Summary of transaction details:
- Property Type: Church
- Transaction Amount: $3,000,000
- Address: 132-05 Cross Bay Boulevard
- Market: Ozone Park
- Square Footage: 6,240
- Price per Square Foot: $481
The sale of the Church also involved key personalities such as Steve Bodden, Roget Lerner, Rev. Dr. Bill Shillady, and Jack Lerner, who represented Ecclesiastical Realty LLC in this transaction. The deal signifies a significant change in ownership of this religious property in Ozone Park.
Players
Ozone Park 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93