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St. Luke Coptic Orthodox Church Acquires Church From NY Pillar Church For $4.3M

Property Image
SOLD
$4,300,000
Li (Barbie) Li
IJ

New York

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Church10,230 SF
Sold
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Property Image
SOLD

St. Luke Coptic Orthodox Church Acquires Church From NY Pillar Church For $4.3M

263 10 Union Turnpike

See Similar Deals
Church10,230 SF
Sold
Li (Barbie) Li
IJ
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Church
Price Per Square Foot:$420
Total Square Footage:10230 SF
Transaction Type:Sale

The property asset involved in this transaction is a church located at 263 10 Union Turnpike in the Fresh Meadows market. The transaction was completed for $4,300,000.00, encompassing a total square footage of 10,230.0.

Summary of transaction details:

  • Property Type: Church
  • Transaction Amount: $4,300,000.00
  • Buyer: St. Luke Coptic Orthodox Church
  • Seller: NY Pillar Church
  • Date of Sale: 03/10/2025

This transaction involved representatives with expertise in church governance and nonprofit regulations. Clear communication and legal knowledge were essential in facilitating the agreement between the two churches. The deal's success was achieved through strategic problem-solving and an understanding of the unique requirements in selling a religious property.

Players

Li (Barbie) Li
B Square Realty
Li Li
46 deals$83.2M volume(646) 889-9988
BROKER
IJ
B Square Realty
IL Jeon
1 deal$4.3M volume(646) 387-4932
BROKER

Details

SOLD
IMAGE: IL Jeon & Barbie Li DATE: 03/10/2025 ADDRESS: 263-10 Union Turnpike MARKET: Fresh Meadows ASSET TYPE: Church BUYER: St. Luke Coptic Orthodox Church SELLER: NY Pillar Church BROKERS: Barbie Li (@BarbieLiBroker) & IL Jeon - B Square Realty (@BSquareRealty) SALE PRICE: $4,300,000 SF: 10,230 ~ PPSF: $420 NOTE FROM BROKER: Selling a religious property is a complex process requiring multiple approvals, legal compliance, and an extended timeline. Unlike standard real estate transactions, the decision isn’t made by a single individual but requires approval from the board of trustees, congregation, and sometimes the Attorney General. Aligning the needs of both the seller and buyer is crucial, and when disagreements arise, strategic problem-solving becomes essential. In this case, both the seller and buyer were churches, making expertise in church governance and nonprofit regulations critical. Clear communication, patience, and legal knowledge helped streamline the process. By leveraging our experience, we successfully structured a deal that met both parties’ expectations in terms of price and contractual conditions. Our team specializes in complex transactions, providing a seamless, full-service experience. Whether it’s commercial, residential, or specialized properties, we provide expert guidance, market knowledge, and strategic solutions to ensure successful outcomes. With a proven track record and deep industry expertise, we simplify even the most challenging deals. If you’re looking for a trusted team that understands every aspect of real estate, we’re here to help. Contact us today at 646-889-9988 !

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
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