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Lee NYC Arranges Sale of Garage for Redevelopment to Self-Storage
A Lee & Associates NYC team of Sidney Rosenthal, Steve Lorenzo, Mitchell Salmon and Christopher Ventura has arranged the $32.2-million sale of a parking garage at 41-47 E. 21st St. to Mequity Companies.
Headquartered in Atlanta, Mequity specializes in self-storage development, including both redevelopment of existing properties and ground-up construction.
Rosenthal represented 41-47 E. 21st’s seller, the Zucker Organization. He had sold the property to Zucker about 30 years ago.
The latest transaction was completed within eight weeks. “The Lee NYC team is currently searching for similar locations on behalf of Mequity Companies throughout Manhattan, the outer boroughs and Westchester,” said Salmon. He represented Mequity in the sale along with Lorenzo and Ventura.
The property is within walking distance of eight subway lines, as well as numerous bus lines. Mequity is expected to take occupancy at 41-47 E. 21st in the first quarter of 2020.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
