{"id":1899,"date":"2022-03-14T16:08:11","date_gmt":"2022-03-14T16:08:11","guid":{"rendered":"http:\/\/listselfstorage.com\/us\/industry-insights\/?p=1899"},"modified":"2022-03-14T16:08:11","modified_gmt":"2022-03-14T16:08:11","slug":"brookfields-90-million-self-storage-spree-leads-nyc-investment-sales","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/brookfields-90-million-self-storage-spree-leads-nyc-investment-sales\/","title":{"rendered":"Brookfield\u2019s $90 Million Self Storage Spree Leads NYC Investment Sales"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\nThe same week that Adam Gordon\u2019s Wildflower sold a self storage facility it built in the South Bronx for <a href=\"https:\/\/therealdeal.com\/2022\/03\/02\/adam-gordons-wildflower-sells-bronx-self-storage-building-for-65m\/\" rel=\"noopener\">$65 million<\/a>, entities connected to Brookfield Asset Management plunked down a combined $90 million for three properties in Brooklyn, each of which generated a significant return for their respective sellers.<\/p>\n<p>Brookfield Property Group bought a 67,000-square-foot self-storage building at <a href=\"https:\/\/a836-acris.nyc.gov\/DS\/DocumentSearch\/DocumentDetail?doc_id=2022020901439015\" target=\"_blank\" rel=\"noopener noreferrer\">235 Park Avenue<\/a>\u00a0 in Clinton Hill, Brooklyn, for $32 million.\u00a0<a href=\"https:\/\/therealdeal.com\/new-research\/topics\/company\/maddd-equities\/\" rel=\"noopener\">Maddd Equities<\/a>\u00a0,\u00a0<a href=\"https:\/\/therealdeal.com\/new-research\/topics\/company\/joy-construction\/\" rel=\"noopener\">Joy Construction<\/a>\u00a0and Cayre Equities sold the four-story building, also known as 45 Clinton Avenue, which they bought in 2018 for about $27 million.<\/p>\n<p>Meanwhile, Brookfield Property\u2019s parent company, Brookfield Asset Management, bought a 105,000-square-foot storage building at\u00a0<a href=\"https:\/\/a836-acris.nyc.gov\/DS\/DocumentSearch\/DocumentDetail?doc_id=2022020901439008\" target=\"_blank\" rel=\"noopener noreferrer\">300 Sheffield Avenue<\/a>\u00a0in East New York, Brooklyn, for $31.4 million. An affiliate of Heitman Capital Management sold the property, which it\u00a0<a href=\"https:\/\/a836-acris.nyc.gov\/DS\/DocumentSearch\/DocumentDetail?doc_id=2015032500275001\" target=\"_blank\" rel=\"noopener noreferrer\">bought<\/a>\u00a0in 2015 for $10.3 million.<\/p>\n<p>Finally, Brookfield Property Group also bought a 79,000-square-foot self-storage building at\u00a0<a href=\"https:\/\/a836-acris.nyc.gov\/DS\/DocumentSearch\/DocumentDetail?doc_id=2022020901439011\" target=\"_blank\" rel=\"noopener noreferrer\">1654 Bushwick Avenue<\/a>\u00a0in Bushwick, Brooklyn, for $26.6 million. The seller was an affiliate of Cayre Equities, which\u00a0<a href=\"https:\/\/a836-acris.nyc.gov\/DS\/DocumentSearch\/DocumentDetail?doc_id=2016080501219001\" target=\"_blank\" rel=\"noopener noreferrer\">bought<\/a>\u00a0the land on which the building now stands for $4.5 million in 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The same week that Adam Gordon\u2019s Wildflower sold a self storage facility it built in the South Bronx for $65 million, entities connected to Brookfield Asset Management plunked down a combined $90 million for three properties in Brooklyn, each of which generated a significant return for their respective sellers. Brookfield Property Group bought a 67,000-square-foot self-storage building at 235 Park Avenue\u00a0 in Clinton Hill, Brooklyn, for $32 million.\u00a0Maddd Equities\u00a0,\u00a0Joy Construction\u00a0and Cayre Equities sold the four-story building, also known as 45 Clinton Avenue, which they bought in 2018 for about $27&hellip;<\/p>\n","protected":false},"author":7,"featured_media":528,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/1899"}],"collection":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/comments?post=1899"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/1899\/revisions"}],"predecessor-version":[{"id":1902,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/1899\/revisions\/1902"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/528"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=1899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=1899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=1899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}