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Brokerage
Posted: January 21, 2019
Pollan and Myers of Kassin Sabbagh Realty broker $47 million sale on behalf of UOVO
Brooklyn, NY According to Kassin Sabbagh Realty, LLC, (KSR) UOVO, a provider of art, fashion and collections storage and services, has closed on the off-market sale of 105 Evergreen Ave. Totaling 150,000 s/f, the building is on a 77,000 s/f parcel in the Bushwick neighborhood.
Steven Pollan and Daniel Myers of KSR brokered the $47 million sale.
Total project costs are estimated at $76 million, and the facility is scheduled to open in fall 2019. Construction on UOVO: BROOKLYN will begin this month. UOVO will re-purpose the existing reinforced concrete structure specifically to suit the needs of fine art, design, fashion and archival collections.
As with all UOVO facilities, UOVO: BROOKLYN will feature a full-time staff of expert art handlers to assist with all client needs, including transportation, installation, shipping and packing. UOVO: BROOKLYN will be the company’s fourth fine art and collections storage location.
The company opened their first location, UOVO: NYC, in December 2014. The eight-story, 280,000 s/f flagship is one of the first facilities in the city built from the ground up for the sole purpose of caring for artworks and archival collections. UOVO’s Rockland County facilities, UOVO: 33 KINGS HWY and UOVO: 100 BRADLEY PKWY, opened in 2014 and 2017 respectively. Today, more than 1500 clients have used UOVO’s storage and services, including leading museums, galleries, fashion houses and foundations, as well as individuals such as premier international collectors, artists and art advisors. With the addition of the Brooklyn location, UOVO has amassed over 650,000 s/f of storage in New York in four years.
The KSR team of Pollan and Myers brokered the off-market transaction. UOVO was led by its CEO, Steve Novenstein and Daniel Alvarez, head of acquisitions.
UOVO provides an array of storage options and innovative service and management solutions tailored to meet the specialized needs of any collection, from climate-controlled storage and private viewing rooms, to transportation, packing, crating, and installation services. Each UOVO facility is purpose-designed and managed by a team of industry-leading experts dedicated to ensuring that works are safeguarded with the highest caliber of security, discretion, professionalism, and care.
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