Acadia Retail Trust continues to snatch up Bleecker Street storefronts.
On the heels of buying supermodel Amber Valletta’s townhouse at 385 Bleecker for $9.99 million, we’ve learned that publicly traded Acadia just closed on the $10 million purchase of the retail co-op at 371-373 Bleecker, home to sportswear apparel brand Redvlany. The retail portion is in a pair of five-story, mixed-use buildings.
JLL repped the seller, Ralph Sitt’s and David Sitt’s Status Capital, and negotiated directly with Acadia in the off-market deal. The JLL team included Ethan Stanton, Brendan Maddigan, Mike Mazzara and Hall Oster.
In the past two years, the JLL team brokered $155 million in retail acquisitions. Among them were several on Williamsburg’s prime North Sixth Street, all leased to major retail brands.
JLL senior managing director Stanton said, “Retail investors today are looking for locations where there’s real tenant demand, limited supply and a reason to believe the street will be stronger five or 10 years from now.”