Storage Post signs $55M refi loan with Nuveen for storage in East Village

Storage Post through the entity Storage Post/444 East 10th Street, LLC as borrower signed a refi loan with lender Nuveen through the entity Teachers Insurance And Annuity Association valued at $55 million for the industrial building (E7) at 444 East 10th Street in East Village, Manhattan.
The deal closed on November 20, 2025 and was recorded on November 26, 2025. The prior lender was Heitman LLC which held debt that had an original loan amount of $48.7 million.The property has 92,470 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $594 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 owner bought the property on April 25, 2022, for $61 million. The signatory for Storage Post was William A. Palmer III . The signatory for Nuveen was Aisha S. Roberts .

The property

The storage building in East Village has 92,470 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 148 feet and is 92 feet deep with a total lot size of 13,210 square feet. The lot is irregular. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The property is an Individual Landmark. The city-designated market value for the property in 2022 is $13.5 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $1,250 in OATH penalties in the last year.

Development

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 Alphabet City, The majority, or 56 percent of the 13 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 32 percent of the space. In sales, Alphabet City has near average sales volume among other neighborhoods with $285.9 million in sales volume in the last two years and is the 28th highest in Manhattan. For development, Alphabet City has had very little major development activity relative to other neighborhoods.It had 251,694 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of five of the 16 commercial properties representing 132,764 square feet of the 320,830 square feet. The largest owner is Storage Post, followed by Richard Young and then Croman Real Estate.
There are no active new building construction projects on this tax block.

The majority, or 36 percent of the 320,830 square feet of built space are elevator buildings, with industrial buildings next occupying 30 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 $368.2 million in debt, with top three lenders as JPMorgan Chase, Heitman LLC, 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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