StorageMart Builds on Expanding NYC Portfolio With $1B Acquisition
By Mark Hallum January 29, 2026 3:15 pm
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StorageMart, parent company of Manhattan Mini Storage, has acquired 15 New York City self-storage facilities in a deal valued at roughly $1 billion, the company announced Wednesday.
The Carlyle Group sold the properties, which include 72 Caton Place in the Windsor Terrace section of Brooklyn, according to Traded. StorageMart is calling the sale the second-largest self-storage deal in New York City’s history, after its own 2021 purchase of Manhattan Mini Storage in 2021 involving 18 facilities.
“This acquisition reinforces our long-term commitment to New York City and our confidence in both the strength of the self-storage sector and the city’s enduring demand fundamentals,” Alex Burnam, StorageMart’s senior vice president of real estate acquisitions, said in a statement.
The portfolio spans approximately 1.3 million square feet, 25,498 storage units, and 121 parking spaces, according to StorageMart. The storage company paid about $584 per square foot, according to Traded.
StorageMart and Carlyle did not immediately respond to requests for comment.
The firm’s acquisition of Manhattan Mini Storage may have included more individual properties, but it was also a larger deal in terms of price. StorageMart paid Edison Properties $3 billion for Manhattan Mini Storage, Commercial Observer reported at the time.
The deal stood out at the time, as self-storage space was becoming a hot commodity in commercial real estate in the aftermath of the pandemic.
StorageMart went on to secure a $1.3 billion loan from Citigroup to refinance its national portfolio in May 2023.
Mark Hallum can be reached at mhallum@commercialobserver.com.
