Prophecy Hall is a fully entitled hospitality and adaptive-reuse opportunity in Beacon, New York, available through several potential transaction structures.
The historic church is currently in active use as a rental venue for a variety of gatherings and activities. It contains three bathrooms and a working kitchen and is usable in its present condition, subject to the needs of a particular operator. The building is structurally solid, with minimal deferred maintenance and no known pressing structural or building-system issues. The primary outstanding repair is work to portions of the steeple roof. The church is not currently ADA accessible, and accessibility improvements would need to be incorporated into any future renovation or change in use. The existing parsonage, which is approved for redevelopment as the hotel component, is vacant and requires a complete renovation.
The entire property and fully entitled project are offered for outright sale at an asking price of $2.9 million. Ownership will also consider lease and partnership structures. The offering includes the approximately 7,000-square-foot historic church and the approved redevelopment of the existing parsonage into a 16-room boutique hotel comprising approximately 14,000 square feet. Upon completion, the project will contain approximately 21,000 square feet in total.
The historic church can be utilized in its current form, subject to the specific needs of the operator. The building is fully approved for use as a restaurant, event venue, performance space, or related hospitality concept. Ownership will complete the final construction drawings, and all other site work is complete. A tenant would be responsible for any interior renovations, accessibility improvements, commercial kitchen upgrades or installation, and customized buildout required for its operations.
The existing parsonage is currently vacant and requires complete renovation. The property is fully approved and entitled for its redevelopment into a 16-room boutique hotel. The hotel component has not yet been constructed, providing a buyer, investor, or operating partner with the opportunity to complete and customize the project.
In addition to an outright sale, ownership will consider a lease of the church. Under a lease structure, the approximately 7,000-square-foot church is offered at an asking base rent of $23.00 per square foot annually, on a triple-net basis.
Ownership may consider a long-term lease, construction-period rent abatement, phased rent commencement, a stepped-rent structure that allows rent to increase gradually during the initial years of operation, or other negotiated terms for a qualified operator.
Ownership is open to considering:
• An outright sale of the entire property and fully entitled project for $2.9 million
• A long-term lease of the full property
• A partial lease of the church for restaurant, event, or performance use
• An investment or operating partnership to complete and operate the project
• Seller financing is available
The offering provides immediate use potential within the historic church, together with a fully approved 16-room boutique hotel development opportunity on the same property.
Lauren Walling
Beacon Church Property
