{"id":1004796546,"date":"2026-04-28T03:41:03","date_gmt":"2026-04-28T11:41:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004796546"},"modified":"2026-04-28T04:23:13","modified_gmt":"2026-04-28T12:23:13","slug":"luxury-retail-assets-in-boston-command-114m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/luxury-retail-assets-in-boston-command-114m\/","title":{"rendered":"Luxury Retail Assets in Boston Command $114M"},"content":{"rendered":"
\n
\"4-6<\/a>
4-6 Newbury St. is home to the only flagship Chanel boutique in Boston. Image courtesy of Newmark<\/em><\/figcaption><\/figure><\/div>\n\n\n

ASG Equities has sold two unique luxury retail properties on Boston\u2019s Newbury Street to a joint venture between Acadia Realty Trust and Osiris Ventures for $113.5 million. Newmark arranged the deal.<\/p>\n\n\n\n

4-6 Newbury St. is home to the only flagship Chanel boutique in Boston and totals 10,328 square feet across a two-story retail condominium. 28 Newbury St. is home to the only Cartier boutique in New England; it totals 18,942 square feet across the whole of the four-story building.<\/p>\n\n\n\n

ASG Equities is the New York\u2013based family office of the Gindi family.<\/p>\n\n\n\n

A Newmark team led by Co-Head of U.S. Capital Markets Robert Griffin, along with Vice Chairman Geoffrey Millerd and Director Paul Penman, represented the seller and procured the buyer.<\/p>\n\n\n\n

\n\n\n\n

READ ALSO<\/strong>: What Higher Oil Prices Could Mean for Retail, Interest Rates<\/a><\/p>\n\n\n\n

\n\n\n\n

In a prepared statement, Penman called the custom-designed flagship retail properties \u201cthe epitome of ultra-luxury High Street retail.\u201d<\/p>\n\n\n\n

Newmark Executive Vice Chairman and Head of International Capital Markets Alex Foshay and Associate Victoria Radman provided additional support for the transaction. Newmark Senior Financial Analyst Casey O\u2019Brien and Financial Analyst Christian Reenstierna provided financial analysis support for the transaction.<\/p>\n\n\n\n

Still exclusive territory<\/h2>\n\n\n\n

In a January forecast, CBRE predicted that ongoing high demand and limited supply will keep retail vacancy low in downtown Boston, where it was only 3 percent. In addition, luxury and boutique brands were expected to expand their footprints downtown, underscoring broader retail industry trends<\/a>.<\/p>\n\n\n

\n
\"28<\/a>
28 Newbury St. is home to the only Cartier boutique in New England. Image courtesy of Newmark<\/em><\/figcaption><\/figure><\/div>\n\n\n

Last August, ASG Equities sold the site of a former Century 21 department store<\/a> in Brooklyn to a joint venture between MCB Real Estate and Osiris Ventures for $47.5 million. JLL represented the seller.<\/p>\n\n\n\n

Of interest, the Gindi family had founded the off-price luxury fashion chain in 1961.<\/p>\n\n\n\n

Precisely what the buyers received was a 14-lot assemblage at 458 86th St. in Bay Ridge, where they intend to invest $100 million in the property\u2019s redevelopment into Century Marketplace, a 95,000-square-foot, grocery-anchored store, along with other improvements.<\/p>\n","protected":false},"excerpt":{"rendered":"

An Acadia Realty Trust joint venture purchased the properties.<\/p>\n","protected":false},"author":882,"featured_media":1004796577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21783,21742,10,21749],"tags":[38205,32789,50999],"class_list":["post-1004796546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-investment","category-latest","category-northeast","category-retail","tag-acadia-realty-trust","tag-cbre","tag-newmark"],"acf":[],"yoast_head":"\nLuxury Retail Assets in Boston Command $114M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"ASG Equities has sold two luxury retail properties on Boston\u2019s Newbury Street to Acadia Realty Trust and Osiris Ventures.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/luxury-retail-assets-in-boston-command-114m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Luxury Retail Assets in Boston Command $114M\" \/>\n<meta property=\"og:description\" content=\"ASG Equities has sold two luxury retail properties on Boston\u2019s Newbury Street to Acadia Realty Trust and Osiris Ventures.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/luxury-retail-assets-in-boston-command-114m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-28T11:41:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-28T12:23:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/4-6-Newbury-St.-Boston.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/luxury-retail-assets-in-boston-command-114m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/luxury-retail-assets-in-boston-command-114m\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Luxury Retail Assets in Boston Command $114M\",\"datePublished\":\"2026-04-28T11:41:03+00:00\",\"dateModified\":\"2026-04-28T12:23:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/luxury-retail-assets-in-boston-command-114m\\\/\"},\"wordCount\":359,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/luxury-retail-assets-in-boston-command-114m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2026\\\/04\\\/4-6-Newbury-St.-Boston.jpg\",\"keywords\":[\"Acadia Realty Trust\",\"CBRE\",\"Newmark\"],\"articleSection\":[\"Boston\",\"Investment\",\"News\",\"Northeast\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/luxury-retail-assets-in-boston-command-114m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/luxury-retail-assets-in-boston-command-114m\\\/\",\"name\":\"Luxury Retail Assets in Boston Command $114M - 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