Albert Rabizadeh Buys Upper East Side Commercial Condo Units for $22M

Albert Rabizadeh’s Global Asset Management has acquired two commercial condominium units on Manhattan’s Upper East Side for a total of $22 million, according to city records made public Monday.

Global Asset, through the entity 1035 3rd Ave Enterprises, purchased a retail condo unit and an office condo unit at 1035 Third Avenue from Acadia Realty Trust, which used the entity 1035 Third Avenue, records show.

Rabizadeh signed the deal for the buyer, while Jason Blacksberg, an executive vice president at Acadia, signed for the seller, according to records.

It’s unclear who brokered the deal. Spokespeople for Global Asset and Acadia did not immediately respond to requests for comment.

Acadia bought the retail unit for $15 million and the office unit for $14 million in 2015, property records show. The units have an alternate address of 200 East 62nd Street. Current retail tenants at the property include French sandwich shop Le Petit Parisien and pet groomer Pupstudio.

It’s unclear why Acadia offloaded the property, but the news comes after a bit of a buying streak for the real estate investment trust.

In October 2024, Acadia bought a Givenchy-anchored retail condo at 92 and 94 Greene Street in SoHo from Continental Ventures for $44 million, as Commercial Observer previously reported. 

Then in April, Acadia acquired a retail co-op a block west of Union Square at 85 Fifth Avenue for $46.8 million from SL Green Realty. Most recently, Acadia bought five retail properties in Williamsburg, Brooklyn — 70, 93, 95, 97 and 107 North Sixth Street — for a total of $110 million.

Isabelle Durso can be reached at idurso@commercialobserver.com.