Developer Adam Gordon made his fortune converting old properties into self-storage units.
Now he’s going back to his roots in a move to capitalize on the boom in luxury property prices.
The Real Deal reports that Gordon plans to convert an existing 11-story storage building at 305 East 61st Street into a high-end personal and art storage facility tailored to Upper East Side residents in luxury buildings like 432 Park Avenue and One57, and to art galleries on the 57th Street corridor.
The building measuring 72,000-square-foot, is located on the corner of Second Avenue. It was acquired for $28 million in December 2012 by Gordon and his investment partners.
Gordon said it will be a “totally revolutionary” facility. “You could only pull this off with a unique piece of real estate on the Upper East Side.”
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2014