Stuf Storage Signs 8K-SF Lease at GFP’s 10 Astor Place
By Mark Hallum March 19, 2026 3:15 pm
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There’s about to be a lot of Stuf going on in the basement of 10 Astor Place.
Stuf Storage, a self-storage company that partners with landlords to convert underutilized spaces, has signed a 10-year, 7,828-square-foot lease for the basement and ground floor of the GFP Real Estate-owned building west of Washington Square Park, according to the landlord.
Stuf plans to use the space to service nearby residents, students of the surrounding universities, and small businesses, GFP said.
GFP did not disclose the asking rent for the building, but the average asking rent for self-storage space in the U.S. was $159 per square foot in the second quarter of 2025, according to a report from Cushman & Wakefield.
“Activating underutilized space in a way that adds value to both the building and the surrounding neighborhood is always a win,” GFP’s Neith Stone, who represented the landlord in-house and the tenant alongside David Kaye, said in a statement.
“Stuf’s model is a smart fit for this property and this location,” Stone added. “With New York University and several dense residential communities nearby, we believe the facility will serve a real need while enhancing the overall functionality of the building.”
Stuf, which launched in 2020, established its 10th New York City location in August after signing an 11,991-square-foot deal at Vornado Realty Trust’s One Park Avenue. Much of its growth is attributed to its ability to activate underutilized space in commercial buildings.
The deal at 10 Astor Place brought the building’s leasing to 100 percent, according to GFP.
“This location is everything we look for: a high-density neighborhood, a landmark building and a real estate partner who understands the value of activating unused space,” Katharine Lau, CEO and co-founder of Stuf, said in a statement. “We’re excited to bring our storage platform to Astor Place and serve the surrounding community.”
There is growing traction in the self-storage sector recently. Operator Public Storage acquired National Storage Affiliates in a $10.5 billion deal earlier this week, and StorageMart, parent company of Manhattan Mini Storage, bought 15 New York City facilities from the Carlyle Group for about $1 billion in January.
Mark Hallum can be reached at mhallum@commercialobserver.com.
