Park-It Management pays $9.3M to Jeffrey Farber for UWS garage

Park-It Management through the entity Col-Am Holdings, LLC paid $9.3 million to Jeffrey I. Farber through the entity 102 West 107th Street Corp. for the garage (G1) at 102 West 107th Street in Upper West Side, Manhattan.
The deal closed on September 15, 2021 and was recorded on September 22, 2021.
The property has 37,500 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $249 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 Jeffrey I. Farber was Jeffrey I. Farber. The signatory for Park-It Management was Gary Spindler.

The seller has owned the parcel since 1973.

Within a 400-foot radius of 102 West 107th Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, two were loans above $5 million totaling $45.8 million. The most recent of the two was Kissling Interests which borrowed $7.8 million from JPMorgan Chase secured by the 8,550-square-foot, 10-unit rental (D1) on 109 West 106th Street and three other properties on August 26, 2021.

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