Malagisi of Sperry Van Ness completes $9.25 million sale of Thornwood Self Storage, 358-unit storage facility sold to regional operator

Sperry Van Ness (SVN) Commercial Realty arranged the sale of Thornwood Self Storage Center for $9.25 million. The property, located at 950 Broadway, consists of a 358-unit storage facility set on 1.02 acres. The property was sold at a 5.5% cap rate, priced at $285 per net rentable s/f. The seller was a local partnership and the buyer was a regional operator with institutional monies. Nick Malagisi, SIOR, national director self storage of the SVN national self storage team, was the sole broker in the acquisition.