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132-05 Cross Bay Boulevard

Solid Rock Pentecostal Church Inc. Acquires Church In Ozone Park For $3M
SOLDChurch

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

Roget Lerner

Ecclesiastical Realty

Broker

$86.4M

vol

7 deals

Broker

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