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A partnership led by Invesco Real Estate has acquired two self-storage properties in Brooklyn and Queens

Invesco Partnership Acquires NYC Self-Storage Portfolio

Cushman & Wakefield arranged the sale of two REIT-managed New York City self-storage facilities totaling 111,611 square feet to a partnership of Invesco Real Estate and Baranof Holdings. Terms of the sale weren’t disclosed. 
Noah Obuchowski, Mike Mele, Robert Bloch, and Luke Elliott of Cushman & Wakefield represented the seller, Kickpoint Ventures. The buyers “were interested in adding to their Northeast portfolio and acquiring two fully stabilized and profitable self-storage facilities,” said Obuchowski, managing director at Cushman & Wakefield. “Their plan is to invest in and enhance the properties,”  

The two-property portfolio includes an 84,149-square-foot facility at 160 John St. in Brooklyn and a 27,462-square-foot facility at 3719 Crescent St. in Long Island City. More than $2.6 million has been invested in the two centrally located facilities over the past several years for renovations, including elevator, unit mix, roof, cosmetic, and structural improvements. 


Inside The Story

Cushman & Wakefield's Obuchowski

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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 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