Mission For Today Holy Tabernacle Acquires Wakefield Church For $5.1M
659 E 239th St Bronx, NY 10470, USA
$5,100,000
$48/SF
Building Size
105,000 SF
Asset Type
Church
Closing
May 4, 2023
About this deal
AI
A Brooklyn-based church, Mission for Today Holy Tabernacle, has acquired a property in Wakefield, Bronx for a purchase price of $5.1 million. The property is located at 659 East 239th Street and occupies the entire block front. It boasts 105,000 square feet of built space on a 70,000 square foot lot with R4A zoning. The R4A zoning allows for a floor area ratio of up to 0.75 times for residential use.
Summary of transaction details:
- Property Type: Church
- Transaction Amount: $5,100,000
- Address: 659 East 239th Street, Wakefield, Bronx
- Market: Wakefield, Bronx
- Buyer: Mission for Today Holy Tabernacle - Oliver Dowling
- Seller: Roman Catholic Church of Saint Frances of Rome
- Square Footage: 105,000
- Price Per Square Foot: $49
The seller in this transaction is the Roman Catholic Church of Saint Frances of Rome. Oliver Dowling, representing Mission for Today Holy Tabernacle, acted as the buyer's representative. The transaction closed on the 5th of May in 2023.
On the Map
$5,100,000
$48/SF
Church
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.11%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93