LNR Partners Sells Retail Space Leased to Le Poisson Rouge for $21.3M
By Mark Hallum March 12, 2026 4:22 pm
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LNR Partners, a subsidiary of Starwood Property Trust and a commercial mortgage special servicer, has sold a 27,541-square-foot retail condominium in Manhattan’s Greenwich Village for $21.3 million, according to city property records made public Thursday.
The firm led by Randall Rosen offloaded the property at 156-168 Bleecker Street — which is leased to live performance venue Le Poisson Rouge and CVS — to Greenwich, Conn.-based real estate investment firm Acram Group, according to property records and broker Marcus & Millichap.
“The property’s secure and stable long-term tenants provide the buyer with strong cash flow, and there is upside to be gained through the lease-up of the vacant commercial spaces and the residential unit,” Eric Anton of Marcus & Millichap said in a statement.
The tenants have leased the property for about 15 years, and CVS recently signed an extension on its lease, according to Marcus & Millichap’s Adam Steiner.
Anton and Steiner negotiated on behalf of the seller alongside a Mission Capital team of David Tobin, Spencer Kirsch and Pierre Bonan, ultimately procuring Acram Group as a buyer.
LNR could not be reached for comment while Acram did not immediately respond to a request for comment.
“156 Bleecker is unique due to its long-term, high-value basement tenant space that typically has limited value,” Tobin, an apparent music lover, said in a statement. “Le Poisson Rouge, a well-known live entertainment venue, occupies the famed former Village Gate Theater, which has headlined the likes of Jimi Hendrix and Patti Smith, among many others. It was very exciting to tour this hallowed ground.”
Located in the South Village Historic District, the retail condo sits on Bleecker Street between Thompson and Sullivan streets, four blocks west of New York University’s John A. Paulson Center at 181 Mercer Street.
The main building opened in 1897 as Mills House No. 1, a name still inscribed atop its Bleecker Street entrance. Originally intended as a residential hotel for unmarried working-class men, it became popular among gay men who could live and socialize there more easily, according to the website for the NYC LGBTQ Historic Sites Project. The Village Gate nightclub occupied the building’s lower floors from 1958 until 1994.
Mark Hallum can be reached at mhallum@commercialobserver.com.
