Storage Deluxe inks $14M deal in Flushing
Storage Deluxe, which bills itself as “New York City’s walk-in closet,” is expanding to Flushing. The company purchased a 96,000-square-foot building for S14.3 million in an off-market deal, Crain’s reported.
The Manhattan-based storage company plans to develop, manage and lease the facility in-house and as it transforms the site, located at 41-06 Delong Street, into a seven-story mixed-use complex that will include 160,000 square feet of storage, 26,000
square feet of retail and a 7,350 square foot commercial rental building, Harvest International broker Theo Kontis told Crain’s.
Long Island-based Harvest International represented both the buyer and the seller: the Delong Realty Company, in the transaction. Explaining why Delong decided to sell, Kontis told Crain’s,”They were ready to move on.The building needed some significant work and it just made sense for them to sell to a developer.”
Storage Deluxe plans to demolish the existing building and start construction in November. [Crain’s] – Christopher Cameron