REBusinessOnline

Glacier Equities Buys Brooklyn Mixed-Use Building for $17.2M

NEW YORK CITY — Glacier Equities, a vertically integrated investment firm, has purchased 10 Grand Avenue, a mixed-use building in Brooklyn that consists of 40 residential units and 14 commercial spaces. The sales price was $17.2 million. The 85,000-square-foot building, whose residential component is currently 68 percent occupied, is located south of the Brooklyn Navy Yard. Fortress Investment Group provided acquisition financing to Glacier Equities, which plans to invest about $6 million in capital improvements. Zach Redding and John Barney of B6 Real Estate Advisors brokered the sale of the property. Dylan Kane, also with B6 Real Estate Advisors, arranged the debt.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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