Newmark Group, Inc. arranged the sale of two luxury retail properties on Boston’s Newbury Street—4‑6 and 28 Newbury Street—occupied by Chanel and Cartier. The assets were sold by ASG Equities to a joint venture between Acadia Realty Trust and Osiris Ventures for a total of $113.5 million, with the transaction led by a Newmark team headed by Co‑Head of U.S. Capital Markets Robert Griffin, Vice Chairman Geoffrey Millerd, and Paul Penman representing the seller.
The $113.5 million proceeds add to Newmark’s earnings stream and underscore the firm’s focus on high‑margin, high‑visibility retail assets in prime Boston locations. The sale is part of Newmark’s broader strategy to capture premium retail space in competitive markets while generating cash that can be reinvested in growth initiatives.
Newmark’s recent financial performance provides context for the transaction. In Q4 2025 the company reported earnings per share of $0.68, beating estimates, and in Q1 2025 revenue reached $665.5 million, exceeding expectations. The full‑year 2025 revenue totaled nearly $3.3 billion. Management has guided FY 2026 EPS to $1.82–$1.92, signaling confidence in continued double‑digit growth.
The sale aligns with Newmark’s diversified business model, which includes Management Services, Leasing, and Capital Markets. By securing a premium sale in a high‑profile corridor, the firm demonstrates its ability to execute high‑value transactions and strengthen its portfolio of high‑margin assets.
The transaction was reported by market participants and noted as one of the largest deals on Newbury Street in recent years, highlighting the resilience of Boston’s luxury retail corridor amid broader market dynamics.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.