Self-storage platform Stuf has opened two new locations in New York City, partnering with realty firm RXR to monetize underutilized commercial space.
Stuf partners with property owners to transform basements, garages, and other underutilized spaces in commercial and residential buildings into tech-enabled self-storage space, creating new cash flow opportunities for landlords.
The new Brooklyn locations, at 485 Clermont Avenue and 550 5th Avenue, bring Stuf’s facility count to 28 locations across the country and five total in New York City. The Clermont Ave facility offers 15,000 square feet of storage space with flagship retail and 180 units ranging in size from 4×3 feet to 20×12 feet. This location is inside 470 Vanderbilt, RXR’s office building and this is the New York-based real estate developer’s first location partnership with Stuf.
Stuf also converted underutilized basement retail at 550 5th Ave into storage, The space is approximately 9,000 square feet and includes 110 units, ranging in size from 4×5 feet to 15×10 feet.
“We are thrilled to be partnering with RXR on a property in Brooklyn to bring highly amenitized and secure storage to the neighborhood,” said Katharine Lau, CEO and Co-Founder of Stuf. “Storage is in demand across the country, especially in New York City, and we are excited to provide residents and businesses with a clean and welcoming place to store their belongings.”
Inside Stuf
Stuf operates nearly 30 locations in seven major metro cities across the country, including New York City, Boston, Washington D.C., San Francisco, Atlanta, Seattle and Los Angeles. The company is in expansion mode after recieving a funding round of $11 million led by Altos and Allegion Ventures. The company focuses on properties that are in desirable residential and commercial locations with convenient accessibility, which ensures consumers and businesses have access to storage, providing a new amenity to the neighborhoods.
In addition, Stuf designs, installs, and operates each of its locations, utilizing tech-enabled tools and IOT to allow its members safe, reliable, and convenient access to its spaces. For property owners, Stuf provides a low touch, easy and ownership-friendly business model to increase revenue on empty and under-utilized spaces.
