Perfetto and Mulryan of Cohen & Perfetto close $5.75 million storage site sale

Cohen & Perfetto LLP, a Manhattan-based real estate law firm, recently closed the $5.75 million purchase of 30-25 Northern Blvd. in Long Island City, on behalf of long-time client, Storage Deluxe. The property, which is vacant land and currently leased to a parking lot tenant, was purchased from Margaret and Terence Toal. Storage Deluxe intends to redevelop the site into a 110,000 s/f storage facility with 2,000 units of available storage space. They will commence construction in October. "The tremendous growth in this neighborhood presented Storage Deluxe with another opportunity to expand and we are happy to assist them in this phase of their growth," said Louis Perfetto, Esq., managing partner of Cohen & Perfetto LLP. Perfetto oversaw the deal working with Christine Mulryan, also of Cohen & Perfetto. Larry Simon and Kelly Kulak Esq. of Morrison & Cohen LLP represented the seller. Steven Hornstock from ABS Partners was the broker. Steve Novenstein, president of Storage Deluxe Realty said, "This acquisition presents an exciting opportunity for us to add to our current footprint in Long Island City. We look forward to developing another ground up, first class self-storage facility." Nick Coslov, CEO of Storage Deluxe said, "With the addition of 30-25 Northern Blvd., the acquisition and development earlier this year of the Graybar building and our three operating properties in Long Island City, we are committed to deliver the highest quality service and product to the residents who live and work in this vibrant and growing community." About Cohen & Perfetto Marshall J. Cohen and Louis A. Perfetto formed Cohen & Perfetto LLP, a full service boutique real estate law firm, in mid-2005. Based at 444 Madison Avenue, Cohen & Perfetto serves land developers, residential and commercial developers, banks, institutional and individual owners, landlords and tenants, and lenders and borrowers from middle market to Fortune 500 companies. The firm has experience and expertise in handling many types of commercial real estate transactions and provides the level of service found in a large firm with a personal feel. For more information please visit www.cohenperfetto.com.