Arasta market is located just nearby Blue mosque. Actually the tradition to build markets near bigger mosques is vivid here as well, as it happened here in 17th century; it is the market of Blue mosque. For some time it was used also as stables, later the fire destroyed it.
Only in 1980s it was reconstructed, nowadays it is lovely small market, where you could get souvenirs, carpets, Iznik tiles, postcards, and other things. It is much smaller and not so crowded as, lets say, Grand market. Market is a home for about 40 shops.
The Arasta Bazaar, also known as Sipahi Carsisi in Turkish, is located behind the Blue Mosque in the old city center, just next to the entrance of the Mosaics Museum. Despite The Grand Bazaar, Arasta Bazaar is a small and simple traditional market in Istanbul. There are about 40 shops lined on both sides of a street, selling traditional items. Originally this place was built in the 17th century and used to be stables during the Ottoman period.
The Arasta Bazaar (Sipahi Carsisi), located in Sultanahmet, is quite small, the equivalent of about two city blocks, with about 40 shops. It was part of the Sultanahment Mosque complex, and probably covers some of the remains of the Byzantine-era Great Palace. It was a ruin itself for most of the 19th and 20th centuries but was rebuilt in the 1980s as a shopping destination.
The stores are a mix of carpet shops, tourist gifts, semi-precious jewelry, ceramics, and art. With the exception of gold jewelry and clothing, most things that you can get at the Grand Bazaar you can also get here at roughly the same prices, but with far less crowding. For those who don't enjoy crowds and prefer slightly more leisurely shopping, this might be preferable, despite a considerably smaller selection.