Self Storage: NY Storage Deluxe Portfolio Sells For $26.7M
By Justin Sumner for CoStar Group
U-Store-It, LP purchased two self-storage facilities totaling 114,452 square feet in New York from Storage Deluxe Management Company for an estimated $26.7 million, or $233 per square foot.
The 47,290-square-foot, four-story self-storage facility at 2887 Atlantic Ave. in Brooklyn is located on a half-acre lot on Long Island. 395 Brook Ave. is a three-story, 67,162-square-foot self-storage facility located on one acre in the Bronx.
The Brooklyn and Bronx properties feature 861 and 1,343 units respectively, for a total of 2,204 storage units. The price per unit for this investment portfolio comes to approximately $12,000.
Doug McCarron, Aaron Swerdlin and Barbara Guffey with Holliday Fenoglio Fowler (HFF) represented the seller in this listing.
