Ken Cayre plans on converting the warehouse into a storage facility.
Cayre Equities has acquired 1260 Atlantic Avenue in Crown Heights from Atlantic Properties for $23.5 million. Ken Cayre plans on converting the four-story warehouse (92,000 SF) into a Treasure Island storage facility with 1,600 units. Cayre owns and operates the regional storage developer, according to TRD.
Heard on the Street: Treasure Island’s James Coakley: “The good deals are tough to come by these days, or it seems to be. And this one we have been looking at since 2012… I just think the seller was finally able to make the deal.”