The Real Deal New York

Georgetown Shopping Center investor sells stake for $32M

Fairway is set to open a location at the Bergen Beach complex in Brooklyn
By Claire Moses | August 03, 2015 01:15PM

The Georgetown Shopping Center in Brooklyn — which will soon house the borough’s second Fairway supermarket — has changed ownership, property records filed with the city Monday show.

Siblings Howard Mintz and Susan Mintz-Bello now fully own the 140,000-square-foot complex, which is located at 2181-2195 Ralph Avenue in the Bergen Beach area of Brooklyn. Their former partner Rochelle Pazer sold her share of the center for $32 million.

In April 2013, the brother and sister sued Pazer and her two daughters, claiming that she had mismanaged the property as well as the funds.

Mintz and Mintz-Bello ultimately wanted to buy Pazer out and gain full control over the strip mall. Pazer had become its manager in 2003 and resigned in 2012, according to court documents.

Fairway will be replacing the Waldbaum’s supermarket, taking 40,000 square feet of space.