Storage Post Expands New York City Footprint
The firm added more than 92,000 square feet to its management portfolio.
Storage Post Self Storage has added a 92,470-square-foot facility to its self storage management portfolio in Manhattan’s East Village. The company’s overall portfolio includes nearly 3 million square feet of storage space across the Northeast and the South and plans to continue its expansion throughout 2022.
Originally built in 1928 as a grocery store and converted to a storage facility in 1995, the building stands seven stories tall, offering 66,352 rentable square feet of storage space and a mix of climate-controlled units, varying from 16 to 220 square feet. The property includes a multi-bay interior loading area and onsite manager.
Located at 444 E. 10th St., Storage Post is one of the 49 available facilities within a 3-mile radius, still offering residents 4.2 net rentable square feet of storage space per capita, below the 6.9 national average. There are six properties under construction and one perspective project in the area, which will add a total of 884,129 square feet to the area’s existing inventory, Yardi Matrix data shows.
In January, New York led the nation in construction, with projects under construction or in the plannings stages accounting for 18.6 percent of the existing inventory, up 20-basis-points over February, according to Yardi Matrix.