The Real Deal New York

Gindi Capital buys pair of Queens retail buildings for $24M

Investment arm of family that owns Century 21 picked up the nine-unit shopping center

March 28, 2016 02:00PM
By Dusica Sue Malesevic

cross-bay-plaza

160-10 and 160-36 Cross Bay Boulevard in Howard Beach via Google Maps

The investment arm of the Gindi family, which owns department store Century 21, picked up a pair of one-story retail buildings in Howard Beach for a combined $24 million, according to city property records filed with the city this month.

Gindi Capital bought Cross Bay Plaza at 160-10 and 160-36 Cross Bay Boulevard from Joseph Abruzzi’s Bond Realty Inc. At 42,055 square feet, the two buildings span an entire block between 160th and 161st avenues. The site has more than 95,000 total buildable square feet available.

Tenants at the nine-unit shopping center include the Gap, RiteAid and RadioShack.

Gindi and Bond Realty were not immediately available for comment.

In 2012, Gindi sold a portfolio of 26 properties — most in Manhattan, with several buildings in Brooklyn and Queens — for $164 million.

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