Condominium developer Six Sigma NYC has agreed to purchase a six-story Tuck-It-Away Self-Storage facility in Manhattan, N.Y., for $54 million. The transaction for the property at 517-523 W. 29th St. is expected to close this week, according to the source.
The 55,000-square-foot storage facility is on a site zoned for up to 74,000 buildable square feet. It’s next to new apartment and condo developments and near the northern end of the High Line, a 1.45-mile long public park that serves as a green belt through the urban community, the source reported.
Jason Lee, president of Six Sigma, negotiated directly with Tuck-It-Away owner Nicholas Sprayregen, according to the source.
Founded in 1980, Tuck-It-Away operates 14 self-storage facilities in New York City, including three in Manhattan. It has one location in Newark, N.J.
Sources:
- The Real Deal: Six Sigma in Contract to Buy $54M High Line Dev Site
