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NY Storage Deluxe Portfolio Sells For $26.7M

U-Store-It Buys Brooklyn, Bronx Self-Storage Facilities Totaling 114,500 SF
November 9, 2010
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.

Please see CoStar COMPS #1978278 for additional information on this transaction.

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