Polsinelli-Graff Team of Compass with Kearns of Corcoran sell 238 Mulberry St. for $9.2 million

Manhattan, NY Adelaide Polsinelli, vice chairman of Compass, along with David Graff, of the Polsinelli-Graff Team, and Darren Kearns of Corcoran brokered the sale of 238 Mulberry St.

The sale price was a benchmark price of $9.2 million. Situated on a block in Nolita, between Prince and Spring Sts., this five-story, four-unit mixed-use building offers a blend of luxury, flexibility, and income potential. The property features ground-floor retail, two full-floor apartments, and a penthouse duplex, all maintained with high ceilings and private outdoor space. Adding to its allure, a curb cut presents the potential to transform the property into a single-family residence with a private garage — a rare opportunity in this location.

“This exceptional property, with its unparalleled location and bespoke high-end features, was one of the most exciting deals on the market,” said Polsinelli. “Its unique flexibility attracted buyers seeking a one-of-a-kind home with built-in income potential.”

“With over 15 years of experience representing the apartments at 238 Mulberry St., achieving record monthly rents, and my personal relationship with the owners, I was honored to help secure one of the highest sales prices in the neighborhood. My deep knowledge of the building’s rental history and its unique property features helped maximize its value for both the sellers and the buyers,” said Kearns.

The sale underscores the power of strategic, off-market transactions in today’s real estate landscape, where sophisticated investors and high-net-worth buyers seek exclusivity and privacy in acquiring prime assets.

“The sale of 238 Mulberry St. highlights the continued demand for premium real estate in Nolita, where historic charm meets modern luxury,” said Polsinelli.