Leonid Bogomolniy Acquires Former Convent Building On Madison Street In Two Bridges For $5.25M
$5,250,000
$694/SF
Building Size
7,556 SF
Asset Type
Church
Closing
Jul 28, 2023
About this deal
AI
A former convent building located at 83 Madison Street (also known as 85 Madison Street) in Two Bridges, Manhattan is under contract for sale. The property, which is currently an asset of the Roman Catholic Church of St. Joachim, is being sold for $5.25 million. The building spans 7,556 square feet and has a price per square foot of $695.
Summary of transaction details:
- Property Type: Church
- Transaction Amount: $5,250,000
- Address: 83 Madison Street
- Market: Two Bridges, Manhattan
- SF: 7,556
- PPSF: $695
Leonid Bogomolniy, a developer, has signed the contract to purchase the former convent building from the Roman Catholic Church of St. Joachim. The sale marks a significant transaction in the Two Bridges area of Manhattan.
Market 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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93