Raymond Gindi adds to FiDi holdings with $38M buy

Fashion heir already owns adjacent properties

TRD New York /
Oct.October 20, 2017 07:00 AM

Raymond Gindi and 173 Broadway

Raymond Gindi, heir to the Century 21 fashion fortune and CEO of real estate investment firm ASG Equities, paid $38.6 million for the two-story retail property 173 Broadway in the Financial District.

Gindi already owns two adjacent five-story buildings at 175-177 Broadway, property records show. If he decided to tear down all three, he could build a 106,000-square-foot commercial property as of right on the corner lot facing Cortlandt Street.

Gindi did not immediately respond to a request for comment.

The 5,000-square-foot property at 173 Broadway is currently home to a Bento Sushi restaurant. The sellers, Broadway and Cortlandt Realty and Knolls Realty, had owned the building since 1974.

Gindi’s father Al co-founded Century 21 in the 1960s. In 2012 the family investment firm, Gindi Capital, sold a 26-building New York portfolio for $164 million. Gindi also owns stakes in the Bryant Park Hotel and 490 Fulton Street in Downtown Brooklyn.


Related Articles

arrow_forward_ios
Sonder CEO Francis Davidson (Credit: Linkedin)

“Nightmare” on Broad Street: lawsuit

“Nightmare” on Broad Street: lawsuit
Battery Park City and Financial District rental markets suffered due to the Covid-19 outbreak, while FiDi’s sales made gains and BPC sales tanked last quarter. (Credit: iStock)

Battery Park City sales hammered last quarter as FiDi sees uptick

Battery Park City sales hammered last quarter as FiDi sees uptick
Blackstone's Jonathan Gray, Gaedeke Group's Sabine Gaedeke Stener and 44 Wall Street (Credit: Stener by Gaedeke Group; Gray by Drew Angerer/Getty Images, 44 Wall Street via Google Maps)

Blackstone sells office tower at 44 Wall Street for $200M

Blackstone sells office tower at 44 Wall Street for $200M
Joe Moinian and 90 Washington Street (Credit: Google Maps, iStock)

Moinian sued for charging market-rate rents despite tax break

Moinian sued for charging market-rate rents despite tax break
Rudin Management's Bill Rudin and 55 Broad Street (Credit: Getty Images and Google Maps)

Charter school inks lease for FiDi office

Charter school inks lease for FiDi office
45 Broad Street and Madison Equities CEO Robert Gladstone (Credit: Getty Images)

Bob Gladstone, Gemdale put FiDi supertall on hold

Bob Gladstone, Gemdale put FiDi supertall on hold
25 Broad Street and renderings of interior units from Booking.com (Credit: Google Maps and Booking)

LCOR lands rental deal with Booking.com for empty condos

LCOR lands rental deal with Booking.com for empty condos
Fosun Property’s Bo Wei, Refinitiv’s David Craig and 28 Liberty Street (Credit: Getty Images, Google Maps)

Fintech firm signs on for massive lease at 28 Liberty

Fintech firm signs on for massive lease at 28 Liberty
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...