PAMERA North America Acquires 9 Great Jones Street in Manhattan's NoHo for $15.25 Million

PAMERA North America LLC has acquired 9 Great Jones Street, a fully leased mixed-use building in Manhattan's NoHo neighborhood, for $15.25 million, the Munich-based firm's New York arm announced Sept. 8. The transaction represents the eighth U.S. investment for PAMERA North America and was financed by Peapack-Gladstone Bank.

Property Overview: Loft Apartments and Restaurant Anchors

The building at 9 Great Jones Street, New York, NY 10012, totals approximately 16,660 square feet and comprises four loft residential units and two commercial units. Each residential loft measures roughly 180 square meters, or approximately 1,940 square feet. The property was built in 1900 and is fully occupied.

Ground-floor and lower-level commercial space is anchored by two restaurant tenants: ACME, which has operated at the address since 1986 under a long-term lease, and The Nines, a supper club with live music that opened in 2022. The first-floor commercial unit is leased to an Australian interior design firm. The seller, an entity tied to Robert Pollock, had purchased the asset in 2004 for $2.5 million. Newmark acted as broker on the sell side.

At $15.25 million, the transaction equates to approximately $915 per square foot and roughly $2.54 million per unit. The purchase price represents a premium to the property's pre-sale assessed market value of $12.9 million.

Value-Add Strategy and Deal Structure

PAMERA North America's business plan for the asset centers on targeted renovations to bring in-place residential rents to market levels, the potential conversion of the first-floor commercial space to residential use, and maximizing income from the restaurant units. Canvas Real Estate will handle property management.

Cord Ernst, Managing Partner of PAMERA North America, described the acquisition as fitting the firm's core investment criteria. "9 Great Jones corresponds exactly to the profile we are looking for: an architecturally unique building in an irreplaceable location, fully leased and with a clearly defined value-creation path," Ernst said. "Properties of this quality rarely come to market in NoHo."

Karl Groß von Trockau, Managing Partner of PAMERA Real Estate Group, framed the deal within the firm's broader U.S. strategy. "We are consistently continuing our countercyclical investment strategy in the United States," he said. "Manhattan continues to offer attractive entry opportunities for well-capitalized and locally anchored investors — particularly in smaller mixed-use properties in prime locations where there is little institutional competition."

NoHo Market Context

Great Jones Street sits in NoHo, a Manhattan submarket characterized by pre-war loft buildings, limited new supply, and proximity to established dining and cultural destinations. The building's neighbors include private club Zero Bond, restaurants Il Buco and Indochine, and the Public Theater. Transit access is provided by the Bleecker Street and Broadway–Lafayette subway stations.

PAMERA North America was established in 2024 as the U.S. investment arm of PAMERA Real Estate Group. As of early 2026, the parent firm reported more than €2 billion in assets under management, with the North America unit having acquired properties valued at more than $440 million across New York, Raleigh, and Denver. The 9 Great Jones Street acquisition follows a multifamily deal the firm closed in Atlanta in August 2026.

Sources

PAMERA Real Estate Group press release: https://pamera.de/pamera-north-america-erwirbt-prestigetraechtige-mixed-use-immobilie-9-great-jones-street-in-new-york/