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New York

Acadia snaps up 210 Bowery

Adelaide Polsinelli and 210 Bowery
Adelaide Polsinelli and 210 Bowery

Acadia Realty Trust, a developer of the City Point development in Downtown Brooklyn, has closed on a $7.5 million purchase of 210 Bowery, the New York Post reported. The deal sets a record for the street when broken down into its price-per-square-foot component: $815. Unnamed sources said that Acadia, a real estate investment trust, is also eyeing the adjacent four-story property of 212 Bowery. That property is owned by the Markell restaurant equipment company.

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Acadia’s executive vice president, Joel Braun, declined to share details with the Post, but said, “We’re very interested in the Bowery.” The four-story commercial property at 210 Bowery is triple net-leased to Markell through December 2014.

Adelaide Polsinelli, Robert Khodadadian and Gary Meese of Eastern Consolidated brokered the deal for the seller, an investment partnership, and brought in the buyer. Polsinelli told the Post that the site can host a new development up to 15,000 square feet. [NYP] —Zachary Kussin

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Acadia Realty TrustAdelaide PolsinelliEastern Consolidated