I Sodi Owners Purchase West Village Retail Condo Space
The restaurant owners bought their Bleecker Street storefront for $6.5 million to secure a permanent home.
Updated on Oct. 24, 2026 in Commercial
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Restaurant owners Rita Sodi and Jody Williams have purchased the retail condo at 312-314 Bleecker Street for $6.5 million. This acquisition marks the first owned commercial property for the pair, who moved their restaurant I Sodi to the West Village site in 2023.
Why it matters
Buying retail space allows operators to secure their long-term footprint and eliminate the uncertainty of lease renewals or landlord disputes. This trend is gaining traction as rising cap rates deter traditional investors, opening doors for owner-occupants to claim prime space.
The $6.5 million deal for the Bleecker Street property follows recent local transactions by the owners, including the $3 million sale of a co-op on Waverly Place in 2025 and a $4 million condo purchase on Hudson Street in March 2026.
The players
Rita Sodi
Renowned chef and restaurateur known for operating I Sodi and future Bar Pisellino locations in New York City.
Jody Williams
Professional chef and partner in the restaurant group behind popular West Village dining institutions.
The details
By transitioning from commercial tenants to property owners, operators can effectively bypass fluctuating market rents and restrictive lease terms. This strategy leverages available capital to solidify physical infrastructure, providing a buffer against the 4 percent increase in average Manhattan retail rents. The shift is increasingly common as businesses look to avoid the complexities of third-party landlord management in a tightening retail landscape.
Timeline
2008: I Sodi began operations at 105 Christopher Street.
2023: The restaurant relocated to its current Bleecker Street address.
2025: Sodi and Williams completed the sale of their Waverly Place co-op.
March 2026: The pair purchased a residential condo on Hudson Street.
October 2026: The Bleecker Street retail condo transaction was finalized.
The Home Front
The move reflects a shift where successful operators are choosing to own rather than rent in response to constrained retail availability. This trend follows an 11 percent decrease in Manhattan ground-floor retail, signaling a move toward permanent occupancy in prime neighborhoods.
Business owners should consider evaluating the long-term benefits of purchasing versus leasing when considering expansion or relocation in high-demand markets. Always consult with a licensed commercial real estate broker or financial advisor before committing to property ownership.
The takeaway
Securing property ownership allows restaurant owners to stabilize their business operations against rising retail costs and market volatility. Local business operators should track commercial real estate trends and their own capital liquidity when evaluating whether to transition from a tenant to an owner.
What happens next
A second location of the owners' restaurant, Bar Pisellino, is scheduled to open at the base of the Flatiron Building in 2027.
Further reading
For context on the local property landscape, see our coverage of New York City Commercial.
Source note: This article includes information reported by The Real Deal New York.
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