Storage Post signs $25.35M refi for properties in Tremont, Fordham Manor

Storage Post signed a $25.35 million refinance loan with Wells Fargo for three storage properties in Tremont and Fordham Manor, the Bronx, in two transactions. These transactions follow another group of buildings Storage Post refinanced with Wells Fargo in New York City, totaling $152 million.

In the first of the new transactions, Storage Post through the entity Sp Hhf Sub Fordham, LLC as borrower signed a refi loan with lender Wells Fargo valued at $18 million for two industrial properties including the industrial building (E7) at 301 West Fordham Road in Fordham Manor, Bronx and industrial building (E7) at 305 West Fordham Road in Fordham Manor, Bronx.
The deal closed on December 1, 2025 and was recorded on December 17, 2025. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $13.7 million.The two properties have 100,500 square feet of built space and 270,591 square feet of additional air rights for a total buildable of 371,076 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $179 and the price per buildable square foot is $48 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

In the second of the new transactions, Storage Post through the entity Sp Hhf Sub Webster, LLC as borrower signed a refi loan with lender Wells Fargo valued at $7.3 million for the industrial building (E7) at 4077 Park Avenue in Tremont, Bronx.
The deal closed on December 1, 2025 and was recorded on December 17, 2025. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $5.8 million.The property has 48,000 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $153 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

The signatory for Storage Post was William A. Palmer III . The signatory for Wells Fargo was Nicole Jurkash .

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $8,728 in OATH penalties in the last year.

Development

For the tax lot buildings, one out of the two buildings received a initial certificate of occupancy in the last ten years. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Fordham Manor, The bulk, or 35 percent of the 18.4 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 28 percent of the space. In sales, Fordham Manor has had very little sales volume relative to other neighborhoods with $190.1 million in sales volume in the last two years. For development, Fordham Manor has near average amount of major developments among other neighborhoods and is the 5th highest in Bronx. It had 1.7 million square feet of commercial and multi-family construction under development in the last two years, which represents 9 percent of the neighborhood’s built space. There were two pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

On the tax block of 305 West Fordham Road, PincusCo has identified the owners of seven of the eight commercial properties representing 110,590 square feet of the 110,590 square feet. The largest owner is Storage Post, followed by Dynamic Star and then Consolidated Edison.
There are no active new building construction projects on this tax block.

The majority, or 94 percent of the 110,590 square feet of built space are industrial buildings, with office buildings next occupying 6 percent of the space.

The borrower

The PincusCo database currently indicates that Storage Post owned at least 19 commercial properties in New York City with 1,431,217 square feet and a city-determined market value of $171.7 million. (Market value is typically about 50% of actual value.) The portfolio has $575.3 million in debt, with top three lenders as JPMorgan Chase, Wells Fargo, and Nuveen respectively. Within the portfolio, the bulk, or 100 percent of the 1,431,217 square feet of built space are industrial properties, with development properties next occupying 0 percent of the space. The bulk, or 33 percent of the built space, is in Brooklyn, with Bronx next at 32 percent of the space.

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