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New York & Tri-State  + Downtown New York  + Retail  | 

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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
  • ◦Sale/Acquisition