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491 Bergen Street

Storage Post Acquires Self Storage Properties In Brooklyn From The Sofia Family For $110M
SOLDSelf Storage

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:

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

Andrew Scandalios

JLL

Broker

$12B

vol

68 deals

Broker
JLL
JLLBrokerage

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