Syracuse, NY Nick Malagisi and Hans Hardisty of National Storage Partners completed the listing and sale of the Planet Self Storage facility at 901 Hiawatha Blvd. West. This facility, established in 1986, contains 62,625 s/f, 484 rental units on 4.86 fenced acres and stand-alone pylon signage.
The facility is located off I-690 near the Destiny USA Mall.
The seller was a long-time out-of-state owner and the buyer was an out-of-town private equity firm.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,