- StorageMart acquires 15 self storage properties in NYC for $1.03B.
- The deal adds 1.3M net rentable SF and 25,498 units to the company’s portfolio.
- StorageMart now manages 51 locations and over 4M SF in the NYC metro.
- This is the second-largest self storage acquisition in the city’s history.
Major Expansion for StorageMart
StorageMart has completed a $1.03B purchase of a 15-property self storage portfolio across New York City. This marks the second-largest self storage acquisition in NYC history, boosting the company’s local and global real estate footprint.
The newly acquired assets comprise 1.3M net rentable SF with 25,498 storage units and 121 parking spaces. Globe St reports that locations span Brooklyn, Queens, Staten Island, and Manhattan, significantly building out StorageMart’s presence under the Manhattan Mini Storage brand.
Strengthening the Self Storage Sector
This acquisition raises StorageMart’s total global location count to roughly 354, and its assets under management surpass $10B. In the greater NYC area alone, the company now manages 51 locations and more than 4M SF of self storage space. The company’s expansion follows a wave of portfolio growth and consolidation across major metros, reflecting an industry-wide push for scale.
Leadership emphasized a long-term commitment to New York City and cited strong local demand fundamentals and resilience as drivers for the investment.
NYC Self Storage Market Trends
Recent data from Yardi Matrix shows NYC’s self storage sector continues to outperform other major markets. Rents rose 0.3% year-over-year, and the market has posted monthly growth for two straight years. Meanwhile, self storage construction is declining, pointing toward continued strong demand dynamics in New York City’s market.
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