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Prime Group Holdings announces the acquisition of Queens, NY, self-storage facility for $94M
Prime Group owns and manages more than 170 self-storage facilities in 23 states

January 1, 2018: Headquartered in Saratoga Springs, NY, Prime Group Holdings, owns self-storage and other real estate interests, has purchased a storage facility from Madison Development LLC in the Astoria neighborhood of Queens, NY.

The facility will be rebranded under the Prime Storage Group name, according to a source.

The company acquired an 82,862-square-foot Brooklyn property from Madison in October for $53 million. The company has also purchased a Madison-owned property at 1735 Zerega Ave. in the Bronx for $37 million, the source reported.

Prior to its recent sales, Madison owned about 600,000 square feet of self-storage in New York City. “I’ve built enough storage, and we are now reframing our business to seek other adventures,” Adam Gordon, president of Madison, told the source.