Carlyle Group Sells 14 Self-Storage Properties In NYC For $1.004 Billion

The transaction involves the sale of 14 self-storage properties located in New York City, with an aggregate sale price of $1,004,811,519. The properties cover a total square footage of 1,720,607, resulting in a price per square foot of $584. The addresses of the properties include 72 Caton Place, 507 Osborn Street, 155 King Street, 62-05 30th Avenue, 651 Utica Avenue, 2924 8th Avenue, 34-01 College Point Boulevard, 150 17th Street, 1690 East New York Avenue, 87-16 121st Street, 302 Dyckman Street, 262 Mott Street, 1 Remsen Avenue, and 31-08 Northern Boulevard, across the markets of Brooklyn, Manhattan, and Queens.

Summary of transaction details:

• Property Type: Industrial & Condo
• Transaction Amount: $1,004,811,519
• Total Square Footage: 1,720,607
• Price per Square Foot: $584
• Seller: Carlyle Group

The sale resulted in approximately $33 million in transfer taxes paid to the city and state after Carlyle Group moved ownership of the properties between its entities. Two additional firms, either fully owned by Carlyle or structured as joint ventures, were also included in this transaction, though the reasons for the internal transaction have not been disclosed.