Former Astor Place Starbucks site sees value drop 72%

When the Astor Place Starbucks closed in 2024 after nearly 30 years, it left a hole in a busy East Village commercial strip — and in the pocket of the Gindi family.  The value of the commercial condo at 21 Astor Place has dropped 72 percent in a decade, from $42 million to $11.7 million, according to Morningstar Credit. The owner, an entity connected to Isaac and Edward Gindi, is currently battling foreclosure.  A company now associated with the Gindis bought the commercial condo for $13 million in 2004, according to city records. Ownership interests appear to have transferred several […] This article originally appeared on The Real Deal. Click here to read the full story.