The Real Deal New York

Art storage company closes on Bushwick site for $47M

Steven Guttman’s Uovo has purchased 105 Evergreen Avenue
By Eddie Small | December 20, 2018 05:15PM

105 Evergreen Avenue and Steven Guttman (Credit: iStock and Uovo)

Steven Guttman’s art storage company Uovo has closed on its purchase of a storage facility in Bushwick for $47 million.

Uovo has purchased 105 Evergreen Avenue in an off-market deal brokered by Kassin Sabbagh Realty, the real estate firm announced on Thursday. Uovo, which means “egg” in Italian, plans to open its new storage facility in the fall of 2019, and the project is expected to cost $76 million in total.

The site is home to a two-story warehouse spanning 150,000 square feet. Uovo will renovate the building to specifically suit the needs of art, design, fashion and archival collections, and the site will feature a full-time staff of expert art handlers to help clients.

This will be the fourth location for Uovo. Their flagship facility spans 280,000 square feet at 41-54 22nd Street in Long Island City, and they have two locations in Rockland County as well.

A KSR team of Dan Myers, Steven Pollan and Rachael Brook brokered the deal.