62 regulated, free-market condo units sell for $22.5M in Flushing to Glacier Equities, according to a source

RockFarmer sold a block of 62 rent-regulated and free-market unsold condominium units in Flushing for $22.5 million to Glacier Equities, according to a person familiar with the transaction. The sale closed yesterday, May 3, 2021.
RockFarmer was the original sponsor of the development, the Northern Lights Condominium at 148-09 Northern Boulevard in Flushing, Queens. The condo is composed of two six-story elevator buildings with a total of 87 residential condo units.
Glacier Equities is led by Myles Horn.
This sale has not yet been recorded in public records.

According to information from a person familiar with the sale, the current gross positive cash flow is $526,000 and could increase to $716,000.

The broker on the deal was Mark Zborovsky of Mark Zborovsky & Company, Inc.