Carlyle Group Acquires Self Storage Properties In Maspeth Queens And Washington Heights For $68M

The sale involved two self-storage properties located at 74-16 Grand Avenue in Maspeth, Queens, and 302 Dyckman Street in Washington Heights, Manhattan. The total sale price was $68,000,000, with the property in Maspeth being priced at $51,000,000 and the Washington Heights property at $17,000,000. The transaction closed on November 22, 2024.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $68,000,000
• Buyer: Harvey Schwartz - Carlyle Group
• Seller: Steven J. Guttman, Nicholas S. Coslov & Steven A. Novenstein - Storage Deluxe
• Loan Amount: $51,000,000 from PGIM Real Estate
• Market: Maspeth, Queens & Washington Heights, Manhattan

The primary individuals involved in the deal were Harvey Schwartz, representing Carlyle Group as the buyer, and Steven J. Guttman, Nicholas S. Coslov, and Steven A. Novenstein, who represented Storage Deluxe as the sellers. The acquisition was strategically financed through a significant loan, facilitating the purchase of the two properties.