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StorageMart Adds $1B Self-Storage Portfolio to NYC Holdings

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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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