Ken Bernstein Of Acadia Realty Trust Acquires Retail Unit From Marc Holiday Of SL Green For $46.8M

A retail unit located at 85 5th Avenue in the Flatiron District of Manhattan was sold for $46,800,000. The property encompasses 13,092 square feet, translating to a price per square foot of $3,575. This asset is under a long-term lease with Nespresso.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $46,800,000
• Address: 85 5th Avenue
• Market: Flatiron District, Manhattan
• Square Footage: 13,092
• Price per Square Foot: $3,575
• Buyer: Ken Bernstein - Acadia Realty Trust
• Seller: Marc Holiday - SL Green
• Brokers: Justin Arzi, Daniel Kaplan, Doug Middleton & Jack Stillwagon - CBRE

The acquisition involved Ken Bernstein representing Acadia Realty Trust, which purchased the property from Marc Holiday, who represented SL Green. The transaction was facilitated by brokers from CBRE, including Justin Arzi, Daniel Kaplan, Doug Middleton, and Jack Stillwagon.