I started off by giving it a light sanding then mixed some white paint I had with a little black for a gray base coat (most paints these days are paint and primer combined).
I gave it a couple of coats of black paint and then lightly distressed it using steel wool to bring out some of the gray base coat in areas that would be naturally damaged along the edges and corners. A friend recommended that I also paint the hardware which I did, except for the handles.