607 W 47th Street — Sale in New York, NY

  • Price: $2
  • Listing type: For sale
  • Asset type: Business
  • Location: New York, NY 10036
  • Size: 448,000 SF

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Description

Jones Lang LaSalle (“JLL”) has been exclusively engaged to market for sale 607 West 47th Street (the “Property”), a six-story, 52,116-square-foot self storage facility containing 1,396 total units in Hell’s Kitchen, Manhattan. The Property was delivered in 2020 as a purpose-built, ground-up development and features fully modern layouts, design, and mechanical systems. Of the 1,396 total units, 1,093 are leasable, generating approximately $1.5 million in total revenue in 2025. As of March 1, 2026, 799 units are occupied, representing a leasable occupancy of 73.1%. The Property presents a compelling value-add opportunity with immediate, quantifiable upside. With 294 currently vacant leasable units, an incoming owner has clear runway to grow revenue significantly as occupancy normalizes toward the market average. Beyond vacant units, 303 units currently offline represent meaningful additional upside once returned to active service. The Property is managed by StorageMart, operating under the Manhattan Mini Storage brand, with a 90-day termination notice provision.

Market Context

This commercial property in New York, NY is listed for sale at $2 across 448,000 SF. Compare it against other commercial property listings for sale in New York, NY — view the full market.

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