StorageMart Completes 2nd-Largest Self Storage Deal in NYC History
The collection encompasses 1.3 million net rentable square feet.
Image courtesy of Manhattan Mini Storage
StorageMart has acquired a 15-property self storage portfolio across New York City, marking the second-largest deal in the sector in the metro’s history. Located across Manhattan, Staten Island, Brooklyn and Queens, the collection total 25,498 units amounting to 1.3 million net rentable square feet. Eastdil Secured represented the seller in the transaction and advised on the financing.
StorageMart completed the deal under its Manhattan Mini Storage brand, which now comprises a total of 51 properties across metro New York City.
The firm purchased Manhattan Mini Storage—and the 18 storage facilities that were under its management—in 2021, for $3 billion, according to Yardi Matrix information.
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Currently, StorageMart’s total portfolio features approximately 354 locations across three countries. The company owns and operates assets surpassing $10 billion in value.
NYC storage sector maintains stability
As of December 2025, the average street rate in New York City clocked in at $34.52 per square foot, according to the latest Yardi Matrix self storage report, up 0.2 percent month-over-month and more than double the $16.32 per square foot national figure. The metro’s figure was also the highest in the country, followed by Los Angeles ($27.25 per square foot) and the San Francisco Bay Area ($26.06 per square foot).
As for its under-construction pipeline, New York City’s storage sector remained flat month-over-month through December, with a supply accounting for 2.7 percent of total stock, mirroring the U.S. figure. However, the New York suburbs had a larger pipeline, clocking in at 3.7 percent during the same month, down 20 basis points from November.
