Cris Burnam Acquires Clinton-Hell's Kitchen Warehouse for $227.1M
Cris Burnam purchases a warehouse in Clinton-Hell's Kitchen, Manhattan from Jon Dario for $227.1M.
Cris Burnam, CEO of StorageMart, has acquired a warehouse located at 633 West 44th Street in Clinton-Hell’s Kitchen, Manhattan for $227.1M. The property was sold by Jon Dario, a New York-based real estate investor. The sale closed on 12/16/2021.
The warehouse is zoned M2-4, CL, which allows for a variety of industrial and commercial uses. The lot size is 34,025 square feet and has a lot dimension of 191 feet by 201 feet. The building has a total square footage of 211,175 and a price per square foot of $1,075.
The property is located in the Clinton-Hell’s Kitchen neighborhood of Manhattan, which has seen significant development and growth in recent years. The area is known for its mix of residential and commercial properties, as well as its proximity to major transportation hubs such as Penn Station and the Port Authority Bus Terminal.
Cris Burnam, who is based in Columbia, Missouri, is the CEO of StorageMart, one of the largest privately-owned self-storage companies in the world. The company operates over 225 facilities across the United States, Canada, and the United Kingdom. This acquisition marks StorageMart’s first foray into the New York City market.
The sale was brokered by a team from Cushman & Wakefield, led by Adam Spies, Doug Harmon, and Kevin Donner. The team represented the seller, Jon Dario, in the transaction. Cushman & Wakefield is a global real estate services firm with a presence in over 70 countries.
Overall, this transaction represents a significant investment in the Clinton-Hell’s Kitchen neighborhood and a strategic move for StorageMart as it expands its presence in the competitive New York City market.