Extra Space Storage finishes $3.8M rehab of storage building in Midwood

The public REIT Extra Space Storage, on September 24, completed a $3.8 million rehabilitation of a storage building at 1321 Avenue M in Midwood. Extra Space is the tenant of the property, which is owned by Safe N Lock Self Storage. Safe N Lock bought the building from Extra Space in 2017 for $19 million.

The plans, pre-filed on February 9, 2017, call for a rehab of the cellar sub-cellar, roof, and all floors of the 55-foot tall, four-story, building.

The project is described in the filings as: it is proposed to file a tenant build-out application for Extra Space Storage as shown on plans. No change to use, egress or occupancy under this application. Please note this application is filed in conjunction with Alt I application 320812395. The initial cost as reported in the DOB filing for the work described in this permit application is $3,750,000.

The plans were filed in conjunction with $2,126,941 A1 plans, pre-filed on August 14, 2014, which called for the conversion of a television and motion picture studio on the property to a storage building. The project received its initial TCO in May.

Frank G. Relf Architect, P.C. was the architect for the rehab project while TAO Architecture + Design was the architect for the conversion.

The property was acquired for $19 million on September 13, 2017.

Direct link to Acris document.LINK

Direct link to DOB document.LINK