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New York REIT Completes Sale of Manhattan Retail Portfolio

Brookfield Property Partners plans to develop incubator retail at four Bleecker Street properties while a family office acquires 416 Washington St.

416 Washington St. 416 Washington St., one of the last Manhattan retail properties sold in the New York REIT portfolio

NEW YORK CITY—New York REIT has completed the dispositions of its Manhattan retail assets with the $31.5 million sale of four Bleecker Street properties to Toronto-based Brookfield Property Partners, and a family office acquiring 416 Washington St. for $11.2 million. Both transactions closed on April 19.

With the recently sold properties, 350 Bleecker St. is on the corner of  W. 10th Street. It includes 4,400 square feet for retail, and an 8,220 square-foot parking garage. Fashion retailer Sarah Pacini currently leases space in the building.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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