It’s the age-old question for apartment dwellers living in cramped spaces: where do you store all of your possessions? If you live in a New York City co-op or condo, most buildings have a solution: sizeable storage units at the ready that you can rent out.
No one wants to give up livable space for storage closets, so creative alternatives are necessary to maximize usable dwelling areas while at the same time providing storage that's safe, clean and convenient for all residents. The placement of these areas can range from basements to in-unit facilities; it's up to residents and boards to decide which kind is right for their particular building.
The most common solution is using the building’s basement more effectively, states Jamie Barnard, owner of Giant Industrial Installations Inc. in College Point and a representative for national distributor WireCrafters. After all, he explains, “they turn an unused, disorganized and cluttered basement storage room into a moneymaker for the co-op or condo. Tenant storage is one of the highest revenue producers per square foot in the building.”
Not Your Average Storage Unit
And speaking of revenue production, not many can top One57, an ultra-luxury condominium under construction on West 57th Street that plans to ask $200,000 for some of its coveted basement storage lockers. The low-end units, according to the building’s offering plan, are priced at $110,000 each.
Now One57 is not your normal building, with high end amenities such as a private dining room, a theater screening and performance room, an arts and crafts room, a library/lounge and game room, and a private fitness center and yoga studio. So it’s storage amenity might just be the Rolls-Royce of comparable locker units.