Travis Kalanick’s City Storage Systems pays $2.1M for industrial property in Tremont

Travis Kalanick’s City Storage Systems through the entity 2368 Hoffman Street Brx LLC paid David Steinberg’s Stonehill Holdings’s Stonehill 2368 LLC $2.05 million for 2368 Hoffman Street in Tremont. The deal closed on April 30, 2020, and was recorded on May 5, 2020. The transaction consists of 1 parcel, including the tax class heavy manufacturing, fireproof building (F1). The property is 11,900 square feet. The parcel(s) have total development potential of 14,461 square feet.
The average sale price per square foot is $142.

Former Uber CEO Travis Kalanick’s City Storage Systems bought the property for $2.05 million and obtained a loan for nearly $6 million from Goldman Sachs. Goldman has financed City Storage expansion into NYC, where the storage company has acquired at least six assets. The sale went into contract April 21, 2020. The last time the property sold was November 15, 2018, for $1,827,643.

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