Glacier Equities Acquires 21 Rent Stabilized Units At 88 Lexington Avenue From CIM For $4.5M

The property involved in this transaction is a package of 21 rent stabilized sponsor condo units located at 88-90 Lexington Avenue in Manhattan, New York. The transaction was completed at a price of $4,500,000.00 and encompasses a total square footage of 19,150.0 square feet.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $4,500,000.00
• Address: 88 Lexington Avenue
• Market: New York
• Buyer: Glacier Equities
• Seller: CIM

Glacier Equities and CIM were the key parties involved in the transaction, with Glacier Equities acting as the buyer and CIM as the seller. The nature of the property as a multi-family asset within a rent-stabilized context is significant, given the specific type of units being transferred in this deal.