Bleecker Street commands third highest rent

The West Village’s Bleecker Street is now home to the third-most
expensive storefronts in the city, according to the Daily News. Three properties were sold this week
for $34 million, or $6,700 a square foot, as The Real Deal reported. Private real estate investment firm Beck Street Capital sold 367-369, 382-384 and 387 Bleecker Street, with tenants such Michael Kors and Burberry signing long-term leases (note: correction appended). Since 2003, Fifth and Madison avenues have been the only retail areas to fetch higher prices that the West Village. Real estate experts said commercial rents recently hit $800 a square foot there. The residential prices in the neighborhood also are the highest in the city. “This street has more than arrived,” said Faith Hope Consolo, chairman of retail for Prudential Douglas Elliman, which was not involved in the sale. “The Meatpacking District and Soho can’t compete with it anymore.” [NYDN]