We study theoretically the dynamics of a hybrid optomechanical system consisting of a macroscopic mechanical membrane magnetically coupled to a spinor Bose-Einstein condensate via a nanomagnet attached at the membrane center. We demonstrate that this coupling permits us to monitor indirectly the center-of-mass position of the membrane via measurements of the spin of the condensed atoms. These measurements normally induce a significant backaction on the membrane motion, which we quantify for the cases of thermal and coherent initial states of the membrane. We discuss the possibility of measuring this quantum backaction via repeated measurements. We also investigate the potential to generate nonclassical states of the membrane, in particular Schrodinger-cat states, via such repeated measurements.