OPEN Impact Real Estate (OPEN), a leading woman-owned commercial real estate services company specializing in nonprofit and impact real estate, is pleased to announce the successful sale of 176 West 105th St., a 10,242-square-foot religious facility located on Manhattan’s Upper West Side, for $10 million.
The property has been acquired by the World Mission Society Church of God, marking a strategic transaction that aligns with both the buyer’s and seller’s objectives. The facility was sold by Romemu, a dynamic and inclusive Jewish community with locations in Manhattan and Brooklyn.
Stephen Powers and Alexander Smith of OPEN represented the seller, Romemu, in the transaction; Michael Marcus of EXP Realty represented the buyer, The World Mission Society Church of God.
“We were able to secure an end-user who valued the column-free public assembly spaces and was willing to pay a price that met the needs of both parties,” said Stephen Powers, co-founder of OPEN. “Our unparalleled end-user network helped create a competitive leveraged process for our seller during an otherwise challenging time for investment sales.”
The sale was motivated by Romemu’s goal to optimize its real estate footprint in response to the evolving needs of the community. Romemu will continue its operations and maintain its vibrant presence in the local community, with ongoing activities at its other facilities on the Upper West Side, including weekly prayer services, adult and children’s educational programs, holiday celebrations, community service opportunities, and more.
176 West 105th St. features a full-floor, double-height meeting space, a commercial kitchen, a rooftop play area, classroom spaces and abundant natural light from all four sides. This acquisition marks a significant expansion for the Church, enhancing its ability to serve its growing congregation in New York City.
This sale underscores OPEN’s expertise in navigating complex transactions, ensuring that both buyer and seller achieve their strategic goals while positively impacting the local market.
About Open Impact Real Estate:
OPEN Impact Real Estate (OPEN) is a certified woman-owned business that delivers a comprehensive range of commercial real estate brokerage and advisory services in partnership with their national affiliate JLL. As a woman-owned enterprise, OPEN is committed to delivering a comprehensive suite of services tailored to empower socially conscious, mission-driven organizations. Renowned as the foremost expert in leveraging physical spaces as a catalyst for change and advancement, OPEN services a host of corporate clients and boasts the largest nonprofit practice in New York City, extending its impact across the United States.
In 2024, OPEN formed a strategic alliance with leading commercial real estate and investment management company JLL. OPEN Impact serves as JLL’s exclusive WBE partner in the Tri-State region and is a national affiliate of the global real estate firm. For more information, please visitwww.openregroup.com.
