Cashmere Brand Kujten Picks Acadia’s 92 Greene Street for Second U.S. Location

Why this matters

Kujten’s swift expansion to a second Manhattan location underscores the resilience of prime New York retail real estate amid broader sector challenges. Institutional landlords like Acadia Realty Trust are benefiting from demand by luxury brands seeking to deepen their U.S. footprint, particularly in established high-end corridors. This leasing activity signals that, despite pressures on retail fundamentals nationally, select submarkets—especially those with strong tourist and affluent local consumer bases—continue to attract capital and tenant interest. For allocators, the deal highlights the bifurcation within retail real estate: while many segments face structural headwinds, luxury and experiential retail can still command premium rents and sustain occupancy. Moreover, the transaction reflects ongoing confidence in Manhattan’s retail corridors as a platform for international brands to build U.S. presence, which may support pricing and underwriting assumptions for institutional portfolios. Lending conditions for retail assets in these micro-markets may remain more favorable relative to broader retail, given the tenant quality and location. Overall, Kujten’s lease at 92 Greene Street is a modest but telling data point on how capital and tenant demand are selectively reinforcing the upper tier of New York retail real estate.

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