Glacier Equities pays $4.8M to Marin Managment for UWS professional units

Glacier Equities through the entity West 82nd Commercial LLC paid $4.8 million to Marin Management Group through the entity 107-111 West 82nd Street Associates for eight professional condo (CR) units at 107 West 82nd Street in Upper West Side, Manhattan.
The deal closed on September 24, 2021 and was recorded on October 6, 2021.
The eight properties have 6,191 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $775 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Marin Management Group was Martin Hollander. The signatory for Glacier Equities was Myles J. Horn.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $294,500. One of the projects were to change the building from a RES to a R-2and change the number of residential units from 58 to 56.

Within a 400-foot radius of 107 West 82nd Street, PincusCo identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, one was for major renovation including a certificate of occupancy change. It was a permit issued on November 7, 2019 for the $6.8 million renovation of 49,315-square-foot R-2 building with 40 residential units at 150 West 82nd Street.
Of those five items, four were loans above $5 million totaling $26.8 million. The most recent of the four was 101 West 81st Street cooperative which borrowed $9.5 million from Investors Bank secured by one condo unit in the 148,751-square-foot, 153-unit mixed-use building (RM) on 101 West 81st Street on August 6, 2021.

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