Storage Deluxe Acquires Industrial Property In Bushwick, BK For $45.5M

Located at 74 Bogart St in Bushwick, Brooklyn, this industrial property was recently sold in a closed transaction. The asset spans approximately 220,000 square feet and was sold for a total of $45,500,000, resulting in a price per square foot of $206.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $45,500,000
• Address: 74 Bogart St
• Market: Bushwick, BK

The sellers of this property were Abe Mandel and Joseph Brunner. The buyers, Steve Novenstein and Daniel Alvarez of Storage Deluxe, acquired the property through the representation of Steven Pollan, Daniel Myers, Rachael Brook, of Kassin Sabbagh Realty. The plans for the property involve demolishing it and constructing a 7-story storage facility, which will be operated by Cubesmart Self Storage.