Marcus & Millichap Inc.
03/11/2026 | Press release | Distributed by Public on 03/11/2026 11:07
Marcus & Millichap Closes Sale and Arranges Financing for Retail Condominium in New York City
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Marcus & Millichap Closes Sale and Arranges Financing for Retail Condominium in New York City
March 11, 2026
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NEW YORK, March 11, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale and financing of 156-168 Bleecker St., a 27,541-square-foot retail condominium with one residential unit in the South Village Historic District of Greenwich Village in New York City. The asset traded for $21.25 million. Mission Capital, a subsidiary of Marcus & Millichap Capital Corp., a leading loan sale advisory and due diligence provider, arranged acquisition financing.
"The property's secure and stable long-term tenants provide the buyer with strong cash flow and there is upside to be gained through the lease up of the vacant commercial spaces and the residential unit," said Eric Anton with Marcus & Millichap in the firm's New York City office. "CVS and Le Poisson Rouge have occupied the property for over 15 years, and CVS's recent extension partially stabilized the property," said Adam Steiner. Anton and Steiner of Marcus & Millichap, along with David Tobin, Spencer Kirsch, and Pierre Bonan of Mission Capital represented the seller and procured the buyer.
"156 Bleecker is unique due to its long-term, high-value basement tenant space that typically has limited value," said Tobin. "Le Poisson Rouge, a well-known live entertainment venue, occupies the famed former Village Gate Theater, which has headlined the likes of Jimi Hendrix and Patti Smith, among many others. It was very exciting to tour this hallowed ground."
The property has 200 feet of frontage, occupying the entire blockfront on Bleecker Street between Thompson and Sullivan streets, one block from New York University's 730,000-square-foot John A. Paulson Center and the university's nearly 50,000 students and faculty. The Broadway-Lafayette/Bleecker Street and West Fourth Street-Washington Square subway stations and Washington Square Park are within a short walk. Popup Bagels, Carbone, Motek, Chopt Creative Salad Co., The Red Lion and Morton Williams are in the immediate vicinity.
Built in 1896, and 79% leased at the time of the sale, 156-168 Bleecker St. has eight retail units totaling 26,752 rentable square feet and one 789-square-foot residential unit. In addition to CVS and LPR, the tenant roster includes Li-Lac Chocolates and Thin Cookies.
"The property's secure and stable long-term tenants provide the buyer with strong cash flow and there is upside to be gained through the lease up of the vacant commercial spaces and the residential unit," said Eric Anton with Marcus & Millichap in the firm's New York City office. "CVS and Le Poisson Rouge have occupied the property for over 15 years, and CVS's recent extension partially stabilized the property," said Adam Steiner. Anton and Steiner of Marcus & Millichap, along with David Tobin, Spencer Kirsch, and Pierre Bonan of Mission Capital represented the seller and procured the buyer.
"156 Bleecker is unique due to its long-term, high-value basement tenant space that typically has limited value," said Tobin. "Le Poisson Rouge, a well-known live entertainment venue, occupies the famed former Village Gate Theater, which has headlined the likes of Jimi Hendrix and Patti Smith, among many others. It was very exciting to tour this hallowed ground."
The property has 200 feet of frontage, occupying the entire blockfront on Bleecker Street between Thompson and Sullivan streets, one block from New York University's 730,000-square-foot John A. Paulson Center and the university's nearly 50,000 students and faculty. The Broadway-Lafayette/Bleecker Street and West Fourth Street-Washington Square subway stations and Washington Square Park are within a short walk. Popup Bagels, Carbone, Motek, Chopt Creative Salad Co., The Red Lion and Morton Williams are in the immediate vicinity.
Built in 1896, and 79% leased at the time of the sale, 156-168 Bleecker St. has eight retail units totaling 26,752 rentable square feet and one 789-square-foot residential unit. In addition to CVS and LPR, the tenant roster includes Li-Lac Chocolates and Thin Cookies.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
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