Jesse Deutch pays $5.2M to Roman Catholic Church for property in the Upper West Side

UPDATED 4:30 p.m., September 3, 2020: Jesse Deutch through the entity Grace Manor NYC LLC paid the Roman Catholic Church Of The Ascension $5.2 million for 218 West 108th Street in the Upper West Side. The deal closed on August 25, 2020, and was recorded on September 2, 2020. The transaction consists of 1 parcel, including the tax class convents (M4).

The property is a 5.5-story elevator building, with about 11,302 square feet above feet above grade. The 2,300-square-foot basement with 10-foot ceilings will be converted to residential, according to the developer. That yields a price above grade of about $460 per square foot or an overall price of $380 per square foot, including the basement.

Deutch is the founder of Two80 Real Estate Ventures. The church acquired the parcel in 1925. The contract was signed February 20, 2020.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $430,404.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Jesse Deutch

Correction: a previous version of the post, relying on public records, reported the property to be 9,752 square feet, with total development potential of 10,002 square feet, yielding an average sale price per square foot is $516, however those figures are not correct. The post above has the updated figures.