Self-storage operator Storage Post has paid about $341 per square foot for a storage facility in Brooklyn, NY.
According to New York City property records, Storage Post paid $95.6 million for the 280,000-square-foot facility. The property is at 35 Ryerson St. in Brooklyn’s Clinton Hill neighborhood.
Moving magnate Moishe Mana, who owns two other storage facilities in the city, sold the property to the Atlanta, GA-based operator.
Storage Post owns 21 other facilities in the New York City market, including nine in the city.
According to The Real Deal, the nine-story manufacturing building was built in 1942 by the federal government and leased to Mergenthaler Linotype Co. The exterior was painted red in 2010 by Mana, who bought the building in the early 2000s.
Mana immigrated to New York from Israel in 1983 with just $800 to his name. He started out as The Man with the Van, making deliveries for $12.50 an hour. By 1990, Moishe’s Moving Systems was the largest independent moving company in the city.
Mana later expanded his moving business with storage, including art, wine and documents.