Century 21 Heir Nabs $33M Refi on Fulton Street Buildings

Century 21 Department Store
Raymond Gindi, an heir to a retail fortune whose real estate company owns a handful of Downtown Manhattan buildings, secured a $33 million loan secured by a building and an adjacent vacant lot near City Hall Park, according to property records.
The loan, from Israel’s Bank Hapoalim, is backed by Gindi’s interest in 140-142 Fulton Street, between Nassau Street and Broadway. The eastern address, 140 Fulton, is an unimproved lot, while 142 Fulton is a slim six-story building with ground-floor retail. Representatives for Gindi’s company, ASG Equities, did not immediately respond to an inquiry about its plans for the properties.
The properties appear to have been in Gindi’s family for decades, dating to a real estate portfolio controlled by his father, Al Gindi, as part of his father’s ownership of the Century 21 Department Store chain. The elder Gindi, who died this summer, founded Century 21 in 1969. The Fulton Street properties have been owned by entities related to Century 21 since at latest 1971.
 
Read more starting with ‘Along with his brother, I.G., Raymond Gindi became a co-chief executive of Century 21 in’ at…..
Century 21 Heir Nabs $33M Refi on Fulton Street Buildings

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