StorageMart, a longtime leader in the self-storage industry, has acquired a portfolio of 15storage properties across New York City, including locations in Manhattan, Staten Island, Brooklyn and Queens. The New York Business Journal reported that the $1.03-billion purchase price makes the deal the largest in New York’s self-storage sector over the past five years and the second largest in the city’s history, following the company’s $3-billion purchase of Manhattan Mini Storage in 2021.
The portfolio totals approximately 1.3 million net rentable square feet and comprises 25,498 storage units and 121 parking spaces. Operating as Manhattan Mini Storage, StorageMart spans 51 locations in the greater New York City metropolitan area, totaling more than four million net rentable square feet.
“This acquisition reinforces our long-term commitment to New York City and our confidence in both the strength of the self-storage sector and the city’s enduring demand fundamentals,” said Alex Burnam, StorageMart’s SVP of real estate acquisitions.
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