Restaurateurs Buy Bleecker Street Retail Condo
Rita Sodi and Jody Williams purchased their West Village restaurant space for $6.5 million.
Updated on Oct. 24, 2026 in Commercial
Live Poll
Is now a good time for small businesses to purchase their own retail or office space?
Restaurant owners Rita Sodi and Jody Williams have purchased the retail condo at 312-314 Bleecker Street for $6.5 million. This transaction marks the first owned retail location for the operators in New York City.
Why it matters
Purchasing commercial property allows restaurant operators to bypass lease negotiations and disputes with landlords. The shift also takes advantage of a market environment where rising cap rates have limited the pool of traditional investors.
The retail condo was purchased from Barracco Realty for $6.5 million. This acquisition follows other recent property moves by the owners, including a $3 million co-op sale in 2025 and a $4 million condo purchase at 421 Hudson Street in March 2026.
The players
Rita Sodi
She is a restaurant owner and operator who successfully navigated the West Village culinary scene for nearly two decades.
Jody Williams
She is a partner and restaurant operator who collaborates on hospitality ventures throughout New York City.
Barracco Realty
This is the real estate firm that sold the retail condo space located at 312-314 Bleecker Street.
The details
The owners previously operated their restaurant, I Sodi, at 105 Christopher Street from 2008 until 2023, when they relocated to the Bleecker Street site. A second location of their Bar Pisellino concept is expected to open at the base of the Flatiron Building next year.
Timeline
I Sodi began operating at 105 Christopher Street in 2008.
The restaurant moved to the Bleecker and Grove location in 2023.
The owners sold their 136 Waverly Place co-op in 2025.
Sodi and Williams purchased a condo at 421 Hudson Street in March 2026.
The purchase of 312-314 Bleecker Street was finalized in October 2026.
Culture Shift
This acquisition reflects a broader shift where restaurant operators are moving away from traditional leasing models toward property ownership. By capitalizing on market conditions where high cap rates have reduced outside investment, owners are securing their long-term presence in premium locations.
The purchase secures the long-term future of a established West Village business at its current address. For local diners and residents, the move signals a permanent commitment by the owners to the Bleecker Street corridor.
The takeaway
Securing property ownership helps restaurateurs protect their business from rent hikes and potential displacement. Other small business owners in expensive urban markets may look toward similar strategies as traditional financing becomes more accessible for established operators.
What happens next
A second location of Bar Pisellino is scheduled to open at the base of the Flatiron Building in 2027.
Further reading
For more information on the local market, visit New York City Commercial.
Source note: This article includes information reported by The Real Deal New York.
Live Poll
Is now a good time for small businesses to purchase their own retail or office space?
