In Odesa, a penthouse by the sea and two commercial properties were transferred to ARMA

The Asset Recovery and Management Agency is preparing three properties in Odesa for management: a penthouse, an architectural landmark, and an office-retail space.

This is stated in a press release from ARMA.

The assets were transferred to ARMA’s management in accordance with a court ruling dated July 2, 2024. These include:

The first property is a two-level penthouse with an area of 347.6 square meters in the “GRAF” club house at 8A Morska Street. The apartment is located on the 14th floor of the building, directly on the seafront. The living area is 199.8 square meters.

The unit features a terrace running along the perimeter of the second floor, access to the roof, and panoramic views of the city and the sea. The apartment is currently undergoing renovation, is connected to utilities, and the building has a generator.

According to the purchase and sale and gift agreements dated November 25, 2022, the appraised value of the two shares that were combined to form the apartment was 5.31 million hryvnias and 1.95 million hryvnias.

According to data from open sources, similar renovated penthouses in this building cost between $650,000 and $990,000.

The second property is a non-residential building located at 10 Staroportofrankivska Street, with a total area of 2,011.9 square meters. The complex includes non-residential buildings, a warehouse, a shed, a fence, and a paved area. The two-story structure is a monument of architecture and urban planning of local significance.

It is in satisfactory condition but requires repairs, and a wall in one of the rooms is collapsed. The property is fenced and guarded; some of the rooms were previously leased out.

The building was privatized in 2020 at an online auction for 16.15 million hryvnias, including VAT. Under the novation agreement dated December 5, 2023, the obligation to transfer ownership of the property amounted to 14.92 million hryvnias.

The third property is an office and retail space at 118 Semen Paliy Street, with an area of 883.5 square meters. It consists of seven separate units for commercial use. Its technical condition is assessed as satisfactory; it has electricity, water, and gas connections, so commercial use can be resumed in the near future.

Under the purchase and sale agreement dated November 5, 2019, the office-retail space was sold for 2.97 million hryvnias. Its book value that year was 2.95 million hryvnias.

According to data from open sources, the rent for commercial space at this address averages 650–700 hryvnias per square meter.

Ірина Глухова