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Acadia Realty Pays $114M for Two Newbury Street Retail Properties
Acadia Realty Trust has paid a total of $113.5 million for two retail properties along Boston’s Newbury Street, reported the Boston Business Journal. The properties at 4-6 Newbury St. and 28 Newbury St. are occupied by Chanel and Cartier, respectively.
Both properties previously belonged to New York-based ASG Equities, the Business Journal reported. The Chanel building acquisition includes the store only; the property also has four upper-floor residential condominiums.
Combined, the deals are the largest along Newbury Street in years. The family office of the Gindl Family, ASG last year sold 93 Newbury St. to its occupant, Ralph Lauren. The largest single-asset purchase on the street in recent years was the $101-million acquisition in 2024 of 149 Newbury, a building that includes Alo Yoga and Google stores and upper-floor offices. Early last year, Apple paid $88 million for its three-story store at 815 Boylston St, one block over from Newbury.
- ◦Sale/Acquisition
