Acadia Buys Trio of Retail Buildings on Williamsburg’s North Sixth Street for $60M
By Isabelle Durso April 22, 2025 4:24 pm
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Acadia Realty Trust has picked up three retail properties from City Urban Realty along North Sixth Street in Williamsburg, Brooklyn, dropping a total of $60 million, Commercial Observer has learned.
After acquiring the retail property at 95 North Sixth Street for $21 million earlier this week, Acadia has now also completed the purchases of 97 North Sixth Street for $27.5 million and 107 North Sixth Street for $11.5 million, according to a source with knowledge of the deal and city records made public Tuesday.
Acadia’s John Gottfried signed for the buyer in the 95 North Sixth and 97 North Sixth deals, while City Urban’s Michael Alvandi signed for the seller. The 107 North Sixth sale hasn’t hit property records yet.
JLL’s Ethan Stanton, Brendan Maddigan and Michael Mazzara brokered the deal for both the buyer and seller. Acadia and JLL declined to comment, while a spokesperson for City Urban did not immediately respond to a request for comment.
City Urban bought the trio of two-story retail buildings — which are on Williamsburg’s most popular shopping corridor and comprise a total of roughly 13,600 square feet — in 2021 and 2022 for a total of $20.1 million, property records show.
Current tenants of the three fully leased properties include clothing store Abercrombie & Fitch at 95 North Sixth, athletic brand Lululemon at 97 North Sixth, and jewelry store Mejuri and dental care startup Wally at 107 North Sixth.
Acadia’s exact plans for the buildings are unclear, but it seems the firm is on a retail streak lately, as it bought another trio of retail properties at 123-129 North Sixth Street for $35 million in October.
That followed Acadia’s purchase of five retail properties in the West Village from Brookfield Properties for approximately $20.25 million in September, as CO previously reported.
More recently, Acadia bought the retail co-op at the base of 85 Fifth Avenue from SL Green Realty for $46.8 million, CO reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
