Self-storage developer Broadway Storage LLC is set to convert a 140,000-square-foot building in midtown Manhattan, N.Y., into a $50 million facility. Principals Steve Schwartz and Jack Guttman recently leased the structure known as the DHL Building on 38th Street and Tenth Avenue and will rebrand it as Gotham Mini Storage.
The self-storage facility will feature climate-controlled units, including some humidity-controlled spaces designed for antique storage. Other amenities include concierge service, moving and storage services, packing supplies, wine storage, custom-built storage lockers and long-term vehicle storage.
Schwartz and Guttman have previously developed several million square feet of self-storage space nationwide and envision this facility catering to a discerning New York clientele. Our goal is to be the only place for New Yorkers to store their valuables with confidence, and we plan to make it so easy they just need to make a call to us and we will do all the work, Guttman said.
Gotham Mini Storage is the first of several new facilities Broadway Storage has planned. Schwartz and Guttman plan on developing at least three new facilities each year until they have a portfolio of 2 million square feet.
Sources:
- Real Estate Weekly: $50M Storage Deal Signed at DHL Building
