Travis Kalanick’s City Storage Systems pays $7M for Sunnyside warehouse, at least fifth buy in city

Former Uber CEO Travis Kalanick’s City Storage Systems through the entity 40-05 Skillman Ave Lic LLC, paid Daniel J. Gordon’s Mayer Malbin Realty I, L.L.C $6.6 million for 40-05 Skillman Avenue in Sunnyside. The deal closed on March 23, 2020, and was recorded on March 25, 2020. The transaction consists of 1 parcel, including the tax class fireproof warehouse (E1). The property is 18,150 square feet. The parcel(s) have total development potential of 18,150 square feet.
The average sale price per square foot is $363.

THIS STORY IS BEING MADE ACCESSIBLE TO ALL READERS. SUBSCRIBE TO ALL CONTENT FOR $10 PER MONTH.

This is at least City Storage Systems’ fifth purchase since 2018, for a total of about $46 million.

For this property, it is its third sale in five years. The Moak Yan Presbyterian Church sold it in January 2015 for $4 million to Kyu Heung Park, who sold it in September 2016 to Daniel J. Gordon for $5.35 million.

In January 2019, City Storage Systems purchased a commercial condominium at 378 Broadway, and has purchased at least three other properties in the city.

Goldman Sachs provided the debt on this purchase and on several others of the New York City acquisitions.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on July 19, 2019.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $700,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link