JERSEY CITY, NJ-Time Equities has acquired theground-floor retail of the luxury condominium at389 Washington St. for $2.8 million, says retail brokerageRKF, which represented the project’s developer,GTIS Partners, in the sale.

The 9,314-square foot retail space is situated in the 33-story,250-unit Luxury A Condominiums in the city’s Power StationArts District. It is 90% occupied, with tenants thatinclude Bright Horizons Childcare, Massage Envy, European WaxCenter and A+ Cleaners. New York City-based RKF was also theleasing agent for the property prior to the sale.

“After leasing 90% of it, GTIS decided to sell,” RKF EVPBarry Fishbach tells The property wasmarketed for a few months, with Time Equities eventually winningthe day.

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