BUSHWICK — The global art market may be slumping, but collectors still need space – and that’s fueling one of Brooklyn’s sharpest real estate plays.

Crain’s New York Business reported that the 112,000-square-foot warehouse at 105 Evergreen Ave. in Bushwick is on track to generate $10 million in net operating income this year from roughly $12 million in rental revenue – a lucrative margin in any market.

Owner UOVO Holdings, founded by Steven Guttman, has refinanced the property, extracting $45 million in cash, while holding a new mortgage valued at $105 million. The warehouse is now valued around $191 million, 50% above its 2020 purchase price.

Clients pay approximately $79 per square foot for private art storage in the city, making climate-controlled storage one of the few real-estat

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