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Glacier Equities Acquires Upper West Side Multifamily Package Deal For $6M

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Harry JamesTyler SignoraEric RothBrett WeisblumMyles Horn

$6,000,000

SOLD
$6,000,000
Tyler Signora
Eric Roth
+ 2

New York

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MultiFamily14,622 SF
Sold 09/24/2021
the dealplayerscompscontact
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Harry JamesTyler SignoraEric RothBrett WeisblumMyles Horn

$6,000,000

SOLD

Glacier Equities Acquires Upper West Side Multifamily Package Deal For $6M

107-111 West 82nd Street, New York, NY, USA

See Similar Deals
MultiFamily14,622 SF
Sold 09/24/2021
Tyler Signora
Eric Roth
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$410
Total Square Footage:14,622 SF
Transaction Type:Sale

The property involved in this transaction is a package deal consisting of 18 sponsor units, including 10 residential co-op units and 8 commercial condominiums. The total sale price was $6,000,000, representing approximately $410 per square foot. The asset, located at 107-111 West 82nd Street in the Upper West Side, has a total area of 14,622 square feet, and the price per unit comes to around $333,000.

Summary of transaction details:

The deal featured Glacier Equities as the buyer, represented by Myles Horn, while the seller, Marty Hollander, facilitated the transaction through the brokerage Cushman & Wakefield. The brokerage team included Brett Weisblum, Eric Roth, Tyler Signora, and Harry James, contributing along with their expertise to complete the sale of the multifamily asset.

Players

Brett Weisblum
16 deals$142.5M volume
BROKER

Eric Roth
Newmark
61 deals$1.5B volume(212) 655-0625
BROKER

Tyler Signora
Newmark
37 deals$852.2M volume(212) 372-0759
BROKER

Tyler Signora
Newmark
37 deals$852.2M volume(212) 372-0759
BROKER

Harry James
Newmark
24 deals$315.3M volume
BROKER

Myles Horn
5 deals$45.5M volume
BUYER

Details

SOLD
IMAGE: Brett Weisblum, Eric Roth, Tyler Signora & Harry James DATE: 09/24/2021 ADDRESS: 107-111 West 82nd Street MARKET: Upper West Side ASSET TYPE: Package Deal - Multifamily BUYER: Glacier Equities - Myles Horn SELLER: Marty Hollander BROKERS: Cushman & Wakefield (@CushWake) - Brett Weisblum (@Brett_Weisblum), Eric Roth (@EricMRoth), Tyler Signora (@Tyler_Signora) & Harry James (@HBeldonJ2) SALE PRICE: $6,000,000 SF: 14,622 ~ PPSF: $410 NOTE FROM BROKER: Sale of 18 Sponsor units of which 10 were residential co-op units & 8 were commercial condominiums. 107-111 West 82nd Street is located in the heart of the Upper West Side between Amsterdam & Columbus Avenues. The sales price equates to approximately $410/SF & $333,000/ Unit. For Similar Deals please contact: 👤Brett Weisblum 📱(914) 400-3983 📧[email protected] 👤Eric Roth 📱 (914) 500-3271 📧 [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$319,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73