416 87 Street

Owner: Sam Abed

Acquired: November 13, 2025, $28 million

Debt: November 13, 2025, $23 million

Built: 1989

Renovated: 1993

SF: 188,975

Dwelling units: 0

No. of buildings: 3

Class: Miscellaneous (G9)

Floors: 3

Legacy BBLs: 3060500015

Transactions:

• Sam Abed borrowed $23 million from Bank of Hope for 423 88th Street, Bay Ridge, Brooklyn on November 13, 2025.

• ASG Equities sold 423 88th Street, Bay Ridge, Brooklyn for $28 million to Sam Abed on November 13, 2025.

• Gindi family borrowed $11 million from Gerber Finance for 416 87th Street, 436 87th Street, 423 88th Street, and 415 88th Street, Bay Ridge, Brooklyn on November 27, 2020.

Development:

• Raymond Gindi filed plans for alteration in Bay Ridge, Brooklyn, on December 21, 2007.

• Raymond Gindi filed plans for alteration in Bay Ridge, Brooklyn, on June 20, 2007.

• Raymond Gindi filed plans for A3 in Bay Ridge, Brooklyn, on January 22, 2008.

• Raymond Gindi filed plans for alteration in Bay Ridge, Brooklyn, on July 28, 2010.

• Raymond Gindi filed plans for A3 in Bay Ridge, Brooklyn, on October 22, 2008.

Violations:

According to city public data, the properties have received $6,000 in OATH penalties in the last year.

Latest Stories:

• Gindi family borrows $11M from Gerber Finance for property in Bay Ridge (November 30, 2020)