Life Storage pays $16.6M to Kayne Capital for industrial in Brownsville

Life Storage through the entity Sh 7201 LLC paid $16.6 million to Kayne Capital through the entity Wicnn Brooklyn, LLC for industrial (E7) at 252 Newport Street in Brownsville, Brooklyn.
The deal closed on June 24, 2021 and was recorded on July 8, 2021.
The property has 69,000 square feet of built space and 0 square feet of additional air rights for a total buildable of 15,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $241 per the PincusCo analysis.
The seller bought the property on 23-Oct-19, for $20.8 million.
The signatory for Kayne Capital was S. David Selznick. The signatory for Life Storage was Gabriel Brodsky.
(321290651)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on June 25, 2019.
David Selznick is CEO of Kayne Capital.
Within a 400-foot radius of 252 Newport Street, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was an initial temporary certificate of occupancy issued on January 6, 2020 for the $2.1 million renovation of 27,431-square-foot S-1 building with no residential units at 507 Osborn Street.

Direct link to Acris document. link