Storage Post Acquires Self Storage Properties In Brooklyn From The Sofia Family For $110M
491 Bergen Street, 471 475 Amsterdam Avenue & 4388 4396 Broadway
$110,000,000
$982/SF
Building Size
111,909 SF
Asset Type
Self Storage
Closing
Jul 14, 2025
AI
The transaction involves a self-storage property located at 491 Bergen Street, 471-475 Amsterdam Avenue, and 4388-4396 Broadway in the Brooklyn market. The sale price was $110,000,000, and the total square footage of the asset is 250,033, resulting in a price per square foot of $440.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $110,000,000
- Address: 491 Bergen Street, 471-475 Amsterdam Avenue & 4388-4396 Broadway
- Market: Brooklyn
- Square Footage: 250,033
- Price per Square Foot: $440
- Buyer: Storage Post
- Seller: The Sofia Family
- Brokers: Andrew Scandalios, Brendan Maddigan, Ethan Stanton, Vickram Jambu, Hall Oster & Michael Mazzara - JLL
The brokerage team representing the deal comprises multiple professionals from JLL, highlighting a collaborative effort among agents to facilitate this significant transaction. The involvement of numerous brokers indicates the complexity and scale of the deal, showcasing the expertise brought to the negotiation process.
Players
Brooklyn Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93