NEW YORK · NAICS 531130
New York self-storage projects are entering a supply wave: the metro ranked third nationally in 2025 construction at roughly two million square feet delivered while Northeast stabilized occupancy slipped to 76.7 percent in late 2025, exactly the condition a credible study must price. Studies analyze supply within a three to five mile radius, build absorption and lease-up curves, and benchmark rent against documented comparables.
FEASIBILITY TRIGGER
Self-storage is special-purpose under SOP 50 10 8; studies analyze supply within a three to five mile radius, absorption, and rent benchmarks, and elevated equity applies.
SBA 7(a) and 504 lenders funded 79 self-storage projects across New York between FY2010 and FY2026, moving $78.6 million in approved capital at an average ticket of $995,000. That volume places New York at #13 of 38 states measured for self-storage SBA activity, or 2.2% of national self-storage dollars. The 7(a) program carried 82.3% of the loan count, with 504 taking the balance, and 7 approvals have hit the pipeline since FY2024.
| Disbursed loans (FY2010–FY2026) | 79 |
| Approved volume | $78.6 million |
| Average loan size | $995,000 |
| 7(a) share | 82.3% |
| Approvals since FY2024 | 7 |
| State rank by loan count | #13 of 38 |
Among the 58 seasoned loans in this segment (approvals FY2010–FY2021), 0.0% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for self-storage is 1.1%, against 7.3% across all industries. That performance runs below the national benchmark for this asset class, a credit-positive signal for lenders.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 0.0% adverse-resolution rate below the national self-storage benchmark of 1.1% supports the credit story for well-underwritten New York projects in this class. Across 79 SBA loans averaging $995,000, that track record does not eliminate the need for a third-party feasibility study, but it means a rigorous study reinforces rather than defends the projections.
Every New York self-storage project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
New York projects often fit SBA 504 where owner-occupied real estate anchors the deal, with the 50/40/10 structure delivering up to 90 percent financing at a fixed debenture rate, while SBA 7(a) covers acquisitions, working capital, and equipment. From July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
The New York metro ranked third nationally in 2025 self-storage construction at roughly 2 million square feet delivered while Northeast stabilized occupancy ran 76.7 percent in late 2025, exactly the supply-wave condition a credible study must price; Live Oak Bank runs a dedicated national vertical.
For a national view of this asset class, see our self-storage SBA feasibility overview, and read our related analysis in the self-storage lending research on our blog. The SBA self-storage feasibility study tests pipeline supply, verified competitor occupancy and the monthly lease-up reserve.
Compare neighboring markets: New Mexico, North Carolina, Texas.
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