Newmark Arranges $113.5 Million Sale of Luxury Retail Real Estate on Boston's Newbury Street
Newmark has arranged the $113.5 million sale of two luxury retail real estate assets on Boston's Newbury Street, the commercial real estate firm announced April 27, 2026. The properties — located at 4-6 and 28 Newbury Street — traded from seller ASG Equities to a joint venture between Acadia Realty Trust and Osiris Ventures.
The transaction encompasses approximately 29,270 square feet of combined retail space. At $113.5 million, the deal equates to roughly $3,877 per square foot across the two-property portfolio.
Property Details: Flagship Luxury Tenants on Boston's Premier Retail Corridor
The two assets occupy the coveted first block of Newbury Street. 4-6 Newbury Street is a two-story retail condominium totaling 10,328 square feet and serves as the only Chanel flagship boutique in Boston. 28 Newbury Street is a four-story building totaling 18,942 square feet and is home to the only Cartier boutique in all of New England.
"4-6 and 28 Newbury Street reflect the epitome of ultra-luxury 'High Street' retail," said Paul Penman, a member of the Newmark team that represented the seller. "The assets are home to custom-designed flagships for timeless luxury brands and benefit from exceptional positioning along the coveted first block of Boston's iconic Newbury Street corridor."
Newmark Capital Markets Team Led the Transaction
The Newmark team was led by Robert Griffin, Co-Head of U.S. Capital Markets, alongside Vice Chairman Geoffrey Millerd and Paul Penman. The team represented the seller and procured the buyer. Additional support was provided by Alex Foshay, Executive Vice Chairman and Head of International Capital Markets, and Associate Victoria Radman. Senior Financial Analyst Casey O'Brien and Financial Analyst Christian Reenstierna provided financial analysis support.
Newmark (Nasdaq: NMRK) reported revenues of nearly $3.3 billion for the twelve months ended December 31, 2025, and operates from approximately 175 offices with over 9,300 professionals across four continents.
Buyer Profile: Acadia Realty Trust and Osiris Ventures Form Joint Venture
The acquiring joint venture pairs Acadia Realty Trust and Osiris Ventures. Financial terms of the joint venture, including each party's ownership percentage or equity contribution, were not disclosed.