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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001005477-07-002186.txt : 20070328
<SEC-HEADER>0001005477-07-002186.hdr.sgml : 20070328
<ACCEPTANCE-DATETIME>20070328114747
ACCESSION NUMBER:		0001005477-07-002186
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040102
FILED AS OF DATE:		20070328
DATE AS OF CHANGE:		20070328

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACADIA REALTY TRUST
		CENTRAL INDEX KEY:			0000899629
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				232715194
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		20 SOUNDVIEW MARKETPLACE
		STREET 2:		PO BOX 1679
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050
		BUSINESS PHONE:		5167678830

	MAIL ADDRESS:	
		STREET 1:		600 THIRD AVE
		STREET 2:		PO BOX 1679
		CITY:			KINGSTON
		STATE:			PA
		ZIP:			18704

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARK CENTERS TRUST
		DATE OF NAME CHANGE:	19930329

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			POVINELLI JOSEPH
		CENTRAL INDEX KEY:			0001248523

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12002
		FILM NUMBER:		07723212

	BUSINESS ADDRESS:	
		STREET 1:		ACADIA REALTY TRUST
		STREET 2:		1311 MAMARONECK AVE.
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10605
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-01-02</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000899629</issuerCik>
        <issuerName>ACADIA REALTY TRUST</issuerName>
        <issuerTradingSymbol>AKR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001248523</rptOwnerCik>
            <rptOwnerName>POVINELLI JOSEPH</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ACADIA REALTY TRUST</rptOwnerStreet1>
            <rptOwnerStreet2>1311 MAMARONECK AVENUE, SUITE 260</rptOwnerStreet2>
            <rptOwnerCity>WHITE PLAINS</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10605</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Sr. Vice President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares of Beneficial Interest - $.001 Par Value</value>
            </securityTitle>
            <transactionDate>
                <value>2004-01-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5661</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.64</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8722</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On January 2, 2004 (&quot;Grant date&quot;), Mr. Povinelli was awarded these common shares of beneficial interest (&quot;Restricted Shares&quot;). These Restricted Shares carry some of the rights of unrestricted shares including dividend rights, but may not be transferred, assigned or pledged until Mr. Povinelli has a vested, non-forfeitable right to these shares. Vesting, which is subject to Mr. Povinelli's continued employment with the Company through the applicable vesting dates, occurs over the next five years from the Grant Date. In addition, the vesting of certain Restricted Shares is contingent upon the Company's total shareholder return exceeding certain thresholds in the year such vesting is scheduled to occur. These thresholds will be tested on an annual and cumulative basis.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joseph Povinelli</signatureName>
        <signatureDate>2007-03-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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