Updated Jul 29, 2025
Storage Post Secures $89 Million Acquisition Loan For Self Storage Portfolio In New York City
330 Madison Avenue & 330 Madison Avenue
$89,000,000
Building Size
—
Asset Type
Self Storage
Closing
Jul 10, 2025
About this deal
AI
The asset involved is a self-storage facility located at 491 Bergen Street, 4388-4396 Broadway & 471-475 Amsterdam Avenue in New York City. The loan amount for the acquisition of this portfolio is $89,000,000.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $89,000,000
- Lender: Heitman Capital Management
- Landlord: Storage Post
- Brokers: Steven Klein & Robert Tonnessen - JLL
The transaction included representation by JLL, which not only represented the seller but also procured the buyer for the portfolio, highlighting their crucial role in facilitating the deal.
On the Map
$89,000,000
Self Storage
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Players
New York Self Storage Market Snapshot
Boundary boundary · Self Storage · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93