Gindi makes DoBro moves with 2-property reacquisition
A Downtown Brooklyn commercial complex is changing hands, taking a series of complicated maneuvers to return the portfolio of properties to its previous owner. Gindi Capital acquired two properties at 25 Elm Place and 486-496 Fulton Street from PIMCO Prime Real Estate (formerly Allianz Real Estate) for a combined $70 million, the Commercial Observer reported. The two properties are part of the same complex, one Gindi previously owned. The full transaction was first reported by PincusCo. Gindi sold the deed and leasehold of 25 Elm Place to Allianz in 2013 for $18.8 million, the same year Allianz took a majority […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Inside the Search: Choosing the Right Deal in Chicago With
Taka Buranda
It’s a Family Affair: Multigenerational Living Rental Can
Help Landlords Boost Income While Offering Tenants
Affordability
PolicyPro: J-51 reboot flops for rent-regulated landlords,
boosts co-ops and condos
Hotel union deal puts cleaners on track for $100K
salaries
Mamdani targets Brooklyn corridors for major housing
push 
Saunders partners with Premier Estate Properties to link
ultralux markets
RealPage rent-fixing settlements pass $200M (and
counting)
Record High Mortgage Debt Sounds Scary. Here’s What the
Headlines Leave Out.
Richard Born dumps Chambers Hotel for $66M
NYC’s top deals: Benchmark scoops up $42M apartment complex
on UWS
