
Compass’ Polsinelli Resells Nolita Retail for 3rd Time in 2 Years
Compass vice chair Adelaide Polsinelli has closed on the off-market resale of three retail condos totaling 2,500 square feet at 262-272 Mott St. in Nolita. The trio sold for $7,350,000, or just under $3,000 per square foot.
Polsineli had sold the entire retail component of 262-272 Mott in 2016 for $26 million, a price that also included three levels of below grade storage-units. A local investor purchased all five retail condos last month; Polsinelli and Compass’ Trystan Polsinelli have now resold three of them to a private investor who plans to occupy them.
After the third sale of the retail at this property in two years, “It’s encouraging and fascinating to see how robust the retail sales market is in Nolita,” said Adelaide Polsinelli. “Nolita, a vibrant neighborhood that is only four blocks wide, continues to attract shoppers and tourists from all over the country with its effortlessly cool vibe.”
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- ◦Economy
- ◦Sale/Acquisition