Watermark Capital Signs Ground Lease With Roman Catholic Church Of Our Lady Of The Rosary For $17M

The property asset involved in the transaction is a ground lease located at 225 Seigel Street in the East Williamsburg market. It was leased by Watermark Capital from the Roman Catholic Church of Our Lady of the Rosary of Pompei. The transaction reflects a value of $17,000,000 and encompasses a total square footage of 83,957, resulting in a price per square foot of $202.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $17,000,000
• Address: 225 Seigel Street
• Market: East Williamsburg
• Lessee: Watermark Capital
• Lessor: Roman Catholic Church of Our Lady of the Rosary of Pompei
• Brokers: Daniel O'Brien, Caroline Hodes, Loren Valla & Henry Hill - Newmark
• Square Footage: 83,957
• Price Per Square Foot: $202

The deal involved several brokers from Newmark, including Daniel O'Brien, Caroline Hodes, Loren Valla, and Henry Hill, who collectively facilitated the transaction between the lessee and lessor, contributing their expertise in the East Williamsburg market.