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Bushwick Art Storage Gets $57 Million Bank Loan For Renovations

The $76 million renovation project at 105 Evergreen Avenue is making big moves.

Bushwick Art Storage Gets $57 Million Bank Loan For Renovations

Bushwick Art Storage Gets $57 Million Bank Loan For Renovations

The $76 million renovation project at 105 Evergreen Avenue is making big moves.

Bushwick Art Storage Gets $57 Million Bank Loan For Renovations
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After news of its imminent facility in Bushwick, high-end art storage company UOVO seems to be making big moves to guarantee quick completion of the new branch. Last week, the company secured a $57 million loan from PNC Bank to fund part of UOVO: BROOKLYN’s  new hefty makeover.

The company says it will be “contributing the remaining equity” of the $76 million renovation project at 105 Evergreen Avenue—that’s still a cool $19 million in self-funded expenses.

Terms of the loan agreement are being kept under wraps, but the company’s rapidly growing portfolio might have helped lock down the deal. UOVO, which specializes in safekeeping and art storage for museums and foundations, has amassed an impressive 650,000+ square feet of valuable storage space across New York City within four years. By itself, UOVO: BROOKLYN is a two-story 150,000-square-foot property in Bushwick.

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Cover image courtesy of UOVO.

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