Inside Self-Storage is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

NYC Self Storage Convent LLC Buys West Harlem, NY, Facility for $48M

An unidentified firm tied with an entity of NYC Self Storage Convent LLC has purchased a facility in West Harlem, N.Y., for $48 million. The property was previously managed by Extra Space Storage Inc., a publicly traded self-storage real estate investment trust and third-party management firm. The seller was LSC Development LLC, an affiliate of California-based self-storage operator LifeStorage LP.

An unidentified firm tied with an entity of NYC Self Storage Convent LLC has purchased a facility in West Harlem, N.Y., for $48 million. The property was previously managed by Extra Space Storage Inc., a publicly traded self-storage real estate investment trust and third-party management firm. The seller was LSC Development LLC, an affiliate of California-based self-storage operator LifeStorage LP.

LSC Development purchased the vacant warehouse at 38-42 Convent Ave. in 2013 for $13.3 million and converted it to self-storage, according to the source. The two-story building comprises 88,000 square feet of storage space.

Headquartered in Salt Lake City, Extra Space owns or operates 1,347 self-storage properties in 36 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 900,000 units and 101 million square feet of rentable space.

Founded in 2011, LifeStorage is headquartered in Roseville, Calif. It owns, has under purchase agreement or operates more than 80 self-storage properties in nine states, with a heavy concentration in the Chicagoland area.

Sources:

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish