Acadia Buys Mixed-Use Property on SoHo’s Greene Street for $60M

Acadia Realty Trust has snapped up a mixed-use property on SoHo’s Greene Street.

The real estate investment trust (REIT) purchased two interconnected buildings at 69 Greene Street and 71-73 Greene Street from New York City-based property investment firm JSRE Acquisitions for a combined $60 million, according to city records made public Tuesday.

The deal was completed in two separate transactions. Using the entity 69 Greene Owner, Acadia bought the five-story residential and retail building at 69 Greene Street for $29.4 million, while the REIT used the LLC 71-73 Greene Owner to acquire the five-story residential and retail property at 71-73 Greene Street for $30.6 million, records show. 

Streetwear boutique Amiri is currently a retail tenant at the base of the property. The properties last sold for $33 million in 2012.

JSRE, which is affiliated with the billionaire Safra family, used similarly named entities in the transactions. Carlos Bertaco and Gina Sutt Malul signed the deals for JSRE, while Jason Blacksberg, executive vice president and chief legal officer at Acadia, signed for the buyer, according to records.

It’s unclear who brokered the new deal. A spokesperson for Acadia did not immediately respond to a request for comment, while a spokesperson for JSRE could not be reached for comment.

The deal represents Acadia’s continued interest in retail properties along Greene Street after buying the Givenchy-anchored retail condo at 92 and 94 Greene Street from Continental Ventures for $44 million in October 2024, as Commercial Observer previously reported. Also in SoHo, the REIT bought the Moschino-anchored retail condo at 73 Wooster Street for $25 million in January 2025.

But Acadia seems focused on retail investments in general across New York City. In February, it acquired four storefronts along Madison Avenue on Manhattan’s Upper East Side from Naftali Group for a total of $20.7 million. And, over in Williamsburg, Brooklyn, Acadia bought a pair of retail buildings at 70 North Sixth Street and 93 North Sixth Street from Asana Partners in July 2025 for $50 million. The latter sale added to the REIT’s growing retail portfolio in Williamsburg.

As for JSRE, the company in March purchased a retail property at 713 Madison Avenue on the Upper East Side from French luxury retail company Longchamp for $40 million.

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