SNL Storage signs contract to buy large warehouse from John Livingston’s Paladino Realty for property in Morrisania

581 Austin Place (Credit: Google)

UPDATED 1:49 p.m., Jan. 30, 2020: SNL Storage through the entity SNL XXIV LLC signed a contract with John Livingston’s Paladino Realty Corp to buy 581 Austin Place in Morrisania. The deal closed on January 21, 2020, and was recorded on January 29, 2020. The transaction consists of 1 parcel, including the tax class miscellaneous warehouse (E9). The property is 49,629 square feet. The parcel(s) have total development potential of 134,538 square feet.
SNL Storage, also known as Safe N Lock Self Storage, is based in Lake Success, and has been actively buying properties in the boroughs, for example paying $15 million in Kensington in December and in 2018 SNL paid $6.5 million for a site in Sunset Park. In August SNL borrowed $23.5 million to develop on that site.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Clarification: The post was updated with recent activity and the the addition of the company’s alternate name Safe N Lock Self Storage.

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